SEOUL, July 21 (Korea Bizwire) — The first-round applications for the government’s cash handouts to all South Koreans began nationwide Monday and will continue until Sept. 12, the interior ministry said. Under the plan intended to help stimulate domestic consumption, all South Korean citizens residing in the country as of June 18, the day before [...]
SEOUL, July 21 (Korea Bizwire) — In response to the rapid proliferation of new synthetic narcotics, the South Korean government is seeking to drastically shorten the classification timeline for temporary controlled substances from the current 40 days to roughly two weeks, aiming to bolster early detection and enforcement capabilities. The Ministry of Food and Drug Safety [...]
SEOUL, July 21 (Korea Bizwire) — As South Korea prepares to roll out its nationwide consumer coupon initiative aimed at reviving domestic spending, some foreign residents, including permanent residents and marriage immigrants, are set to benefit from the program for the first time. Beginning July 21, eligible residents can apply for the consumer coupons, which offer [...]
SEOUL, July 21 (Korea Bizwire) — As small restaurant owners continue to struggle with rising operational costs and a sluggish economy, South Korea’s National Assembly is considering introducing a cap on delivery app fees — a move that could significantly reshape the country’s booming food delivery sector. At the center of the debate is the [...]
SEOUL, July 18 (Korea Bizwire) — In a direct response to South Korea’s strengthened gaming regulations, U.S. game publisher Electronic Arts (EA) has disabled microtransaction features for Korean users of its upcoming soccer title, “FC 26,” making it one of only two countries—alongside Russia—facing such restrictions. According to industry sources on Thursday, EA has blocked [...]
SAMCHEOK, South Korea, July 17 (Korea Bizwire) — In a move aimed at addressing demographic challenges and extending the reach of youth-focused policies, the city of Samcheok in Gangwon Province has officially expanded its definition of “youth” to include individuals up to 49 years old. The revised regulation, enacted in May through an amendment to [...]
SEOUL, July 17 (Korea Bizwire) — The Seoul Metropolitan Government announced Thursday it will begin integrating big data analytics into the early stages of policymaking, marking a major shift toward predictive, evidence-based urban governance. The initiative, dubbed “data-first administration,” aims to assess the impact of key municipal projects across five sectors—urban space, transportation, housing and [...]
SEOUL, July 17 (Korea Bizwire) – President Lee Jae Myung on Thursday instructed senior aides to review a plan to redesignate Constitution Day as a public holiday. Observed annually on July 17, Constitution Day had been a public holiday but was reclassified in 2008 as a commemorative day, meaning government offices and businesses no longer [...]
SEOUL, July 17 (Korea Bizwire) – A leading government-affiliated research institute has issued a stark warning against adopting a defined contribution (DC) pension model as an alternative to South Korea’s current national pension system, calling it a “poisoned chalice” ill-suited to the country’s demographic and economic realities. The report, released Wednesday by the National Pension [...]
SEOUL, July 16 (Korea Bizwire) — South Korea on Wednesday launched a task force to establish the so-called RE100 industrial complexes entirely powered by renewable energy sources, in a move aimed at addressing regional energy imbalances and accelerating the country’s energy transition, the industry ministry said. In its inaugural meeting, the task force discussed necessary [...]