SEOUL, Feb. 19 (Korea Bizwire) — The government plans to tighten driving ability assessments for transport workers including bus, taxi and freight vehicle drivers that are aged 65 years or older, the transport ministry said Wednesday, a move aimed at enhancing the safety of public transportation services. The Ministry of Land, Infrastructure and Transport said [...]
SEOUL, Feb. 19 (Korea Bizwire) — Seoul Metropolitan Government announced plans to invest 51.3 billion won in creating a “digital safety city” this year, with initiatives including the installation of intelligent CCTV systems and expanded public WiFi coverage. The budget represents a 6.3 billion won increase from last year. The city is accelerating the deployment of [...]
SEOUL, Feb. 17 (Korea Bizwire) — Five years after the implementation of South Korea’s 52-hour workweek, three out of four corporate research divisions report declining research and development (R&D) performance, according to a new survey. The findings, released on February 16 by the Korea Chamber of Commerce and Industry (KCCI) in collaboration with the Korea Industrial [...]
SEOUL, Feb. 17 (Korea Bizwire) — Chinese artificial intelligence firm DeepSeek has temporarily suspended its services in South Korea following concerns over excessive data collection and privacy violations. The move comes after the Personal Information Protection Commission (PIPC) flagged deficiencies in the company’s data handling practices and recommended a pause in operations until compliance measures are [...]
SEOUL, Feb. 17 (Korea Bizwire) — The South Korean Financial Supervisory Service (FSS) announced on February 16 that investors will now be able to confirm dividend amounts before investing in quarterly dividends, following recent regulatory changes. The amendment to the Capital Markets Act, which took effect this year, removed provisions that had fixed quarterly dividend record [...]
SEOUL, Feb. 16 (Korea Bizwire) — South Korea’s Housing and Urban Guarantee Corporation (HUG) has introduced a stringent “one-strike-out” policy to immediately initiate foreclosure proceedings against foreign landlords who fail to return tenants’ rental (jeonse) deposits, aiming to curb financial risks associated with non-compliant property owners. HUG announced on Friday that the new measure, effective since [...]
SEOUL, Feb. 13 (Korea Bizwire) — South Korea will implement virtual reality technology to help assess the driving capabilities of motorists aged 75 and older during their license renewal process, government officials announced on February 12. The initiative is part of a pedestrian safety action plan jointly developed by the Ministry of the Interior and Safety [...]
SEOUL, Feb.12 (Korea Bizwire) — The government said Wednesday it seeks to amend a law to place teachers with mental disorders on compulsory leave, following a fatal stabbing of an 8-year-old student by a school teacher that shocked the nation this week. Education Minister Lee Ju-ho announced the plan during a meeting of top education [...]
SEOUL, Feb. 12 (Korea Bizwire) — The South Korean government is intensifying its suicide prevention efforts in collaboration with local authorities as suicide deaths are expected to continue their upward trend from last year. The Ministry of Health and Welfare announced on February 11 that Second Vice Minister Park Min-soo held a meeting with deputy governors [...]
SEOUL, Feb. 12 (Korea Bizwire) — The Korea Minting and Security Printing Corporation (KOMSCO) has suspended gold bar sales as global demand for the precious metal surges, fueled by renewed fears of a tariff war under newly re-elected U.S. President Donald Trump. On April 10, gold spot prices closed at $2,908.17 per troy ounce, marking the [...]