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Archive by category Policies and Regulation

North Gyeongsang Unveils Bold Plan to Transform Coastal Economy with Salmon Farming, Year-Round Tourism

ANDONG, Nov. 15 (Korea Bizwire) – North Gyeongsang Province announced on November 14 a comprehensive “Maritime and Fisheries Transformation” plan aimed at revitalizing its East Sea coastal fishing industry and leisure tourism sector. The ambitious initiative includes a significant shift in aquaculture strategy, with plans to invest 140 billion won through 2030 to transition from traditional [...]

Gov’t Unveils Measures to Address Consumer Complaints in Wedding Industry

SEOUL, Nov. 14 (Korea Bizwire) — The government unveiled a package of measures aimed at addressing long-standing consumer complaints in the wedding industry Thursday, which has often been cited as a significant factor driving up the high costs of marriage. The measures were introduced at an economic ministers’ meeting in Seoul, led by Finance Minister [...]

S. Korea Unveils Measures to Boost Productivity of Service Industry

SEOUL, Nov. 14 (Korea Bizwire) — The government on Thursday unveiled a package of measures, such as preferential interest rates and incentives, aimed at developing the domestic service industry as a new engine of growth. The measures were introduced during an economy-related ministers’ meeting held in Seoul, presided over by Finance Minister Choi Sang-mok, who [...]

South Korea Expands Hot Spring Access to Campgrounds in Tourism Push

SEOUL, Nov. 13 (Korea Bizwire) – Hot spring bathing in South Korea will soon extend beyond traditional bathhouses to camping and glamping sites, following new regulatory changes approved by the government. The Ministry of the Interior and Safety announced on November 12 that the Cabinet had passed amendments to the Hot Springs Act enforcement decree, aimed [...]

Flight Takeoffs, Landings to Be Suspended for Noise Control during College Entrance Exam

SEOUL, Nov. 12 (Korea Bizwire) – The government said Tuesday all aircraft takeoffs and landings across South Korea will be temporarily prohibited to keep noise down during this year’s annual College Scholastic Ability Test (CSAT) later this week. According to the transportation ministry, aircraft takeoffs and landings will be restricted for 35 minutes between 1:05 [...]

Hyundai Motor Partners with Ulsan City to Build City-wide Hydrogen Ecosystem

SEOUL, Nov. 12 (Korea Bizwire) — Hyundai Motor Co. on Tuesday forged a partnership with the Ulsan metropolitan city to cooperate in establishing an overall municipal ecosystem based on clean hydrogen energy within the industrial city in South Korea’s southeast. Under their memorandum of understanding, Hyundai and the city government will collaborate in developing and [...]

Consultative Body on Doctors’ Walkout Aims for ‘Meaningful’ Results by Late December

SEOUL, Nov. 11 (Korea Bizwire) — A consultative body involving the ruling People Power Party (PPP), the government and doctors’ groups was launched on Monday to seek to resolve a prolonged walkout by trainee doctors, with the aim of producing “meaningful” results by late December, a PPP lawmaker said. Thousands of trainee doctors have left [...]

Oceans Ministry to Spend 10.4 Bln Won to Foster Maritime Experts with IMO

SEOUL, Nov. 11 (Korea Bizwire) — South Korea’s oceans ministry said Monday it plans to spend 10.4 billion won (US$7.45 million) to support the International Maritime Organization’s (IMO) efforts to foster maritime experts. Under the project, the Korea Institute of Ocean Science and Technology will select students from around the globe for its master’s program [...]

South Korea Investigates Suspected Evasion of Green License Plate Rule for Luxury Corporate Cars

SEOUL, Nov. 11 (Korea Bizwire) – The Ministry of Land, Infrastructure and Transport has launched a comprehensive investigation into corporate vehicle registrations this year, following reports of companies attempting to circumvent new regulations requiring green license plates on corporate vehicles worth over 80 million won. The distinctive green plates, introduced early this year, are reportedly being [...]

Meta Fined 21.6 Billion Won in South Korea for Collecting Sensitive User Data for Targeted Ads

SEOUL, Nov. 11 (Korea Bizwire) – South Korea’s data protection watchdog has imposed new penalties on Meta, Facebook’s parent company, for collecting sensitive personal information from Korean users, including their political views, for advertising purposes. The latest fine brings total penalties against Meta in South Korea to approximately 60 billion won. The Personal Information Protection Commission [...]