SEOUL, June 13 (Korea Bizwire) — President Lee Jae-myung on Friday pledged to lift unnecessary regulations and provide supports on trade to companies, saying that his government would pursue a “pragmatic and flexible” trade policy to overcome crisis. Lee made the remarks at a meeting with the heads of the nation’s top five conglomerates, including [...]
Seoul, June 12 (Korea Bizwire) — As President Lee Jae-myung’s administration sets its sights on making South Korea one of the world’s top three artificial intelligence (AI) powers, a growing chorus within the tech industry is calling for a shift in focus — from grand-scale infrastructure projects to practical, sector-specific solutions that bridge the widening gap [...]
SEOUL, June 12 (Korea Bizwire) — The South Korean government has released a comprehensive white paper chronicling its response to the COVID-19 pandemic, detailing a 1,564-day journey from the nation’s first confirmed case to the official downgrade of the health crisis. Titled “2020–2024 COVID-19 White Paper,” the document was published by the Ministry of Health [...]
CHEONGJU, June 11 (Korea Bizwire) — Amid rising temperatures and shifting weather patterns driven by climate change, South Korea’s disease control agency has unveiled a comprehensive five-year plan to strengthen the nation’s defenses against vector-borne diseases such as Japanese encephalitis, malaria, and tick-borne infections. At a briefing held Wednesday at its Osong headquarters, the Korea [...]
SEOUL, June 11 (Korea Bizwire) — President Lee Jae-myung on Wednesday unveiled a sweeping vision to revitalize South Korea’s capital markets by promoting dividend-friendly policies, cracking down on unfair trading practices, and positioning equities as a viable alternative to real estate for household investment. Speaking at a roundtable held at the Korea Exchange’s Market Surveillance Committee [...]
SEOUL, June 11 (Korea Bizwire) – South Korea’s major food delivery platforms are under renewed pressure as the Lee Jae-myung administration accelerates discussions on implementing a cap on delivery-related fees — a key campaign pledge aimed at promoting fairer economic practices. At the center of the debate is a proposal from Baemin (operated by Woowa [...]
SEOUL, June 11 (Korea Bizwire) — South Korea’s antitrust watchdog said Wednesday it has fined Temu for misleading South Korean consumers through deceptive promotional campaigns, marking the first regulatory sanction imposed on the Chinese e-commerce platform by the agency. The Fair Trade Commission (FTC) said it has imposed a fine of 357 million won (US$260,000) [...]
SEOUL, June 11 (Korea Bizwire) —As South Korea’s ruling Democratic Party accelerates efforts to legalize and regulate won-based stablecoins, industry insiders warn that a hasty rollout could expose the financial system to disorder and weaken the country’s global competitiveness. In a move reflecting growing pressure from lawmakers, a consortium of major South Korean banks — including [...]
SEOUL, June 10 (Korea Bizwire) — A lawmaker of the ruling Democratic Party (DP) on Tuesday introduced a bill allowing companies to issue stablecoins pegged to the South Korean currency, in what would be another boost for the cryptocurrency market. Rep. Min Byung-dug of the DP said the bill also seeks to establish a digital [...]
SEOUL, June 10 (Korea Bizwire) — As South Korea’s new administration moves to position the country as a global hub for digital assets, a majority of Koreans say they plan to increase their investment in cryptocurrencies and related financial products, according to a nationwide survey released Monday. The Korea Chamber of Commerce and Industry (KCCI) [...]