SEOUL, Jan. 8 (Korea Bizwire) – Beginning this year, South Korea is embarking on a comprehensive update to its automobile regulations, targeting both safety and environmental concerns. The Korea Automobile and Mobility Association (KAMA) unveiled these new guidelines on January 7, marking a significant shift in the nation’s approach to automotive regulation. In an effort [...]
SEOUL, Jan. 7 (Korea Bizwire) – The financial regulator said Sunday that it will launch an investigation into sales of derivative products that track Chinese stocks listed on the Hong Kong exchange, amid concerns that such products would put investors at risk of posting heavy losses. The inspection into 12 local banks and brokerages will [...]
SEOUL, Jan. 7 (Korea Bizwire) – The transport ministry on Sunday ordered South Korean airlines to conduct safety checks on Boeing 737 Max planes in a preemptive safety measure following an emergency landing of a B737 Max 9 plane in the United States. South Korean carriers do not have the same B737 Max 9 in [...]
SEOUL, Jan. 5 (Korea Bizwire) – The government will extend intensive policy support to bring inflation down below 3 percent in the first half of 2024 as prices are projected to ease slower than expected, the finance ministry said Friday. “Inflation is expected to moderate gradually to stay around 3 percent in the first half [...]
SEOUL, Jan. 5 (Korea Bizwire) -- The South Korean government has decided to substantially increase the number of foreign workers at industrial sites and in rural areas this year, in response to the population crisis and labor shortage. The government is also considering the introduction of long-term employment incentives to encourage skill development among foreign workers [...]
SEOUL, Jan. 5 (Korea Bizwire) – The Korean Meteorological Administration (KMA) announced on January 4 that it is expanding the provision of snow weight information in its weather forecasts. Since last month, the KMA has been running a pilot project in Gwangju and South Jeolla Province, estimating the weight of expected snowfall and providing this information [...]
SEOUL, Jan. 4 (Korea Bizwire) – The Military Manpower Administration (MMA) said Thursday it has created a cyber investigation team to step up monitoring on those who attempt to evade mandatory military service and crack down on draft dodgers. The MMA said the new team will look into those who post information on how to [...]
GOYANG, Jan. 4 (Korea Bizwire) –Ilsan Lake Park in Goyang, Gyeonggi Province, a popular destination attracting over 100,000 visitors daily, has maintained first-class water quality even during abnormal high-temperature weather conditions. According to the city on January 3, despite the severe algae bloom observed nationwide in waterside parks due to last summer’s record-breaking heatwave, the [...]
SEOUL, Jan. 3 (Korea Bizwire) – The vice chief of South Korea’s financial regulator said Wednesday authorities will set up a computerized system to crack down on naked short selling, in a bid to promote a level playing field for stock investments. Kim So-young, vice chairman of the Financial Services Commission (FSC), said the country [...]
SEOUL, Jan. 3 (Korea Bizwire) –The education ministry said Wednesday it will make a mental health test available at all elementary, middle and high schools starting in the new semester in March in an effort to detect students at risk early amid worsening problems of teenage suicide and loners. The “mind EASY test” is composed [...]