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Archive by category Policies and Regulation

Yoon Reveals Strategy to Open up Military Zones for Development

SEOUL, Feb. 26 (Korea Bizwire) — President Yoon Suk Yeol said Monday the government will release a large area of military-protected land to the public to enable the construction of essential facilities and promote regional economic development. Yoon unveiled the plan during a government-public debate on livelihood issues, which was the 15th in a series and held on a military airfield in Seosan, 98 kilometers southwest of Seoul. Under the plan, Yoon said [...]

Finance Ministry Takes Central Role in Tackling Low Birthrate Crisis

SEOUL, Feb. 26 (Korea Bizwire) – The search for solutions to South Korea’s critically low birthrate is increasingly highlighting the pivotal role of fiscal authorities. While the Presidential Committee on Ageing Society and Population Policy serves as the interdepartmental control tower and the Ministry of Health and Welfare is the primary agency, the essence of many [...]

Gov’t Says Trainee Doctors Won’t Be Held Accountable If They Return to Work by Thursday

SEOUL, Feb. 26 (Korea Bizwire) — The government said Monday it will not hold trainee doctors accountable if they return to work by Thursday as intern and resident doctors stayed off the job for the seventh day in protest of the medical school quota hike plan. Interior Minister Lee Sang-min made the remarks during a [...]

S. Korea to Offer Tax Incentives to Boost Value of Listed Firms

SEOUL, Feb. 26 (Korea Bizwire) — The financial regulator said Monday that it will work to incentivize efforts by local businesses to enhance their own value that will in turn lead to increased returns to investors. The move comes as part of efforts to end the “Korea Discount,” where local shares are traded at prices [...]

Upcoming Drama “Wise Resident Life” Sparks Controversy Amid Doctors’ Strike Over Medical School Expansion

SEOUL, Feb. 26 (Korea Bizwire) – The South Korean government’s policy to increase the number of medical school seats has led to a collective action by doctors, resulting in a healthcare gap that has left patients out in the cold. Amidst this backdrop, the upcoming tvN drama “Wise Resident Life” is facing backlash for its portrayal [...]

Seoul Launches Initiative to Transform Unused Spaces into Parking Lots

SEOUL, Feb. 26 (Korea Bizwire) – The Seoul Metropolitan Government announced on February 25 that it is seeking participants for its “Home Parking Lot” project, an initiative aimed at addressing the parking shortage in residential areas by converting unused spaces, such as vacant lots, into parking lots. This project, initially introduced in 2004 under the name [...]

South Korean Doctors and Medical Students Rally Against Admissions Increase, Testing Government Resolve

SEOUL, Feb. 23 (Korea Bizwire) – In a dramatic turn of events, the medical community in South Korea has launched a series of protests, including mass resignations by resident doctors and a collective leave of absence by medical students, in opposition to the government’s plans to increase medical school admissions. This move has sparked widespread concern [...]

Nearly 80 Pct of Junior Doctors Join Walkout amid Growing Medical Service Disruption

SEOUL, Feb. 23 (Korea Bizwire) — Nearly 80 percent of trainee doctors nationwide have submitted resignations and over 7,800 doctors walked off the job to protest a plan to raise the medical school enrollment quota, leading to the government’s issuance of the highest health alert amid an exacerbating medical system crisis. Intern and resident doctors [...]

Gov’t Raises Health Care Crisis Level to ‘Serious’ over Doctors Walkout

SEOUL, Feb. 23 (Korea Bizwire) — The government raised its four-scale health care service crisis gauge to the highest level of “serious” Friday in response to the departure of doctors in their collective action against the planned increase in the medical school admission quota. In an effort to alleviate the growing strain on the medical [...]

South Korea to Enforce Zero-Tolerance Policy for Public Officials Involved in Drug Crimes

SEOUL, Feb. 23 (Korea Bizwire) – The South Korean government is set to implement a zero-tolerance policy that will exclude public officials from their positions even for a first-time intentional drug offense. This initiative is part of a broader plan to improve public service integrity and deter misconduct within the ranks of government employees. Additionally, the [...]