ULAN BATOR, May 28 (Korea Bizwire) — South Korea, in partnership with the OECD, has unveiled a comprehensive strategy to help Mongolia confront its growing water crisis, as climate pressures and overreliance on groundwater threaten supplies across the country. The proposal, announced Wednesday at the Mongolian Agency for Meteorology and Environmental Monitoring in Ulan Bator, [...]
SEOUL, May 28 (Korea Bizwire) — Acting Finance Minister Kim Beom-suk said Wednesday the government will mobilize all available resources to foster the bio industry as a new engine for South Korea’s economic development. Kim made the remarks during his opening speech at a policy forum held in Seoul, which brought together industry representatives and [...]
SEOUL, May 26 (Korea Bizwire) — South Korea has formally expanded the legal framework for hydrogen fuel usage beyond automobiles, paving the way for broader adoption of hydrogen-powered mobility technologies across diverse sectors including logistics and maritime transportation. The Ministry of SMEs and Startups and the city of Ulsan announced on Sunday that the regulatory sandbox [...]
SEOUL, May 24 (Korea Bizwire) — South Korea is weighing major reforms to its end-of-life care system, with calls mounting to expand the legal window for halting life-sustaining treatment and to formally institutionalize advance funeral directives at the national level. At a policy roundtable hosted by the Ministry of Health and Welfare on Thursday, medical [...]
JEJU, May 22 (Korea Bizwire) – Jeju Island is ramping up efforts to position itself as a global hub for digital nomads, unveiling a strategic initiative to attract remote workers and foster regional innovation. The initiative will be explored in depth at a dedicated session during the upcoming 20th Jeju Forum for Peace and Prosperity, scheduled [...]
SEOUL, May 21 (Korea Bizwire) — Lee Jae-myung, presidential candidate of the Democratic Party of Korea, has pledged to overhaul the nation’s animal welfare framework by introducing a Basic Animal Welfare Act and establishing a National Animal Welfare Promotion Agency, aiming to consolidate currently fragmented government responsibilities related to animals. In a policy statement released via [...]
SEOUL, May 21 (Korea Bizwire) — Subway trains in Seoul will begin running from 5 a.m. starting August, bringing forward their starting time by 30 minutes to help facilitate commutes for early workers, the Seoul metropolitan government said Wednesday. Previously, early commuters were required to take intracity buses to get to work, but the new [...]
SEOUL, May 20 (Korea Bizwire) — The country’s financial regulator said Tuesday that tighter rules on household loans will come into effect from July as planned amid still higher debt levels. According to the Financial Services Commission (FSC), tighter debt-service-ratio (DSR) rules will be applied to virtually all kinds of household debts, and the stress [...]
SEOUL, May 20 (Korea Bizwire) — As South Korea prepares to mandate zero-energy building (ZEB) standards for private apartment complexes by the end of June, major construction firms are racing to upgrade their building technologies to meet new government regulations aimed at reducing greenhouse gas emissions. The new rules, which will apply to all private buildings [...]
SEOUL, May 20 (Korea Bizwire) — South Korea’s Fair Trade Commission (FTC) has uncovered more than 1,100 unfair contract clauses across 23 major webtoon and web novel content providers (CPs), exposing widespread practices that undermine creators’ copyright protections and allow for the unauthorized use of derivative works. Following a comprehensive review of contract terms from companies [...]