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 [...]
SEOUL, July 16 (Korea Bizwire) — One in nine South Korean civil servants recently participated in the long-criticized custom of subordinates treating senior officials to meals, underscoring the persistence of outdated hierarchical practices within the public sector despite reform efforts. A joint survey released Friday by the Ministry of the Interior and Safety and the [...]
SEOUL, July 16 (Korea Bizwire) — Im Seung-kwan, newly appointed as the fourth Commissioner of the Korea Disease Control and Prevention Agency (KDCA), pledged Monday to strengthen South Korea’s public health security infrastructure and position the agency as a central command hub for infectious disease crises. Speaking at his inauguration ceremony at KDCA headquarters in Osong, [...]
SEOUL, July 15 (Korea Bizwire) — The Financial Services Commission (FSC) on Tuesday raided the major TV station SBS over allegations that some of its officials engaged in illegal insider trading using undisclosed information about a partnership with Netflix, government sources said. The FSC’s Capital Market Investigation Division carried out the raid while questioning an [...]
SEOUL, July 15 (Korea Bizwire) — Google plans to launch a standalone premium subscription plan for YouTube video streaming without the music streaming component in South Korea, as part of a voluntary corrective measure to address its alleged anti-competitive practice, the country’s antitrust regulator said Tuesday. The standalone product, dubbed YouTube Premium Lite, will be [...]
SEOUL, July 15 (Korea Bizwire) — In a move aimed at easing daily financial burdens on low-credit individuals, South Korea’s financial authorities are considering allowing postpaid transit card functions for people undergoing debt workout programs. The initiative is part of President Lee Jae-myung’s broader policy agenda to support financially distressed small business owners and delinquent [...]
SEOUL, July 15 (Korea Bizwire) — As temperatures in parts of South Korea surged past 40°C again this summer, experts warn that extreme heat is no longer an anomaly, but a growing reality. In response, the government is shifting its focus from prevention to adaptation, launching community-level initiatives to safeguard vulnerable populations. On July 8, [...]
SEOUL, July 14 (Korea Bizwire) — South Korea’s financial authorities are preparing a sweeping overhaul of capital regulations to curb excessive bank lending in real estate and steer financial resources toward high-growth industries like artificial intelligence and biotechnology. According to industry officials on July 13, the Financial Services Commission (FSC) is reviewing plans to raise [...]
SEOUL, July 14 (Korea Bizwire) — In a move expected to accelerate the rollout of biosimilars — often referred to as a next-generation growth engine — South Korea’s drug regulator plans to streamline the approval process for these cost-effective biologic drugs beginning in 2026. According to pharmaceutical industry sources on Sunday, the Ministry of Food [...]
MUAN, South Korea, July 14 (Korea Bizwire) — South Korea is pushing forward with legislation that would offer sweeping incentives — including deep electricity discounts and tax breaks — for companies operating in designated RE100 industrial zones powered entirely by renewable energy. The move is expected to significantly bolster efforts to attract major data center investments [...]