SEOUL, Feb. 11 (Yonhap) – South Korea plans to expand its official development assistance (ODA) to 50 nations by 2029, the agriculture ministry said Tuesday, a move partly aimed at strengthening the global competitiveness of the country’s agri-food industry. The move comes as part of the government’s five-year plan to bolster the country’s international agriculture [...]
SEOUL, Feb. 11 (Korea Bizwire) — With permanent makeup and tattoos become increasingly mainstream in South Korea, lawmakers and health authorities are facing mounting pressure to establish safety and hygiene regulations for an industry that technically remains illegal under current law, according to a National Assembly report released on February 10. The National Assembly Research Service’s [...]
SEOUL, Feb. 10 (Korea Bizwire) – Four out of 10 dog farms in South Korea have closed their doors since the country legislated a law banning dog meat consumption last year, the agriculture ministry said Monday. Of the total 1,537 dog farms, 623, or 40 percent, have shut down their business since the government implemented [...]
SEOUL, Feb. 9 (Korea Bizwire) — South Korea’s Financial Supervisory Service (FSS) announced on February 9 that it will enhance access to corporate disclosure information for foreign investors by expanding English-language content on its electronic disclosure system (DART) and launching a new open data platform on Sunday. The updated English DART system now allows real-time access [...]
SEOUL, Feb. 9 (Korea Bizwire) — South Korea’s ambitious deep-sea gas exploration project, codenamed “Daewang Whale,” faces an uncertain future after the first drilling attempt failed to yield economically viable hydrocarbon reserves. With the government unwilling to fund a second drilling phase and the Korea National Oil Corporation (KNOC) grappling with financial instability, the project’s continuation [...]
HAENAM, South Korea, Feb. 8 (Korea Bizwire) — Haenam County in South Jeolla Province has introduced an expanded financial support system for newborns, ensuring that a child born in 2025 will receive up to 91.56 million KRW ($63,100) in government assistance by the time they turn 18. According to Haenam County officials on February 7, the [...]
SEOUL, Feb. 7 (Korea Bizwire) — South Korea’s Ministry of Justice has embarked on a sweeping revision of the nation’s Civil Act, marking the first comprehensive overhaul since its enactment in 1958. The reform aims to modernize property and contract laws, reflecting economic shifts and aligning with global legal standards. The ministry announced on February 7 [...]
SEOUL, Feb. 7 (Korea Bizwire) — The South Korean Ministry of Health and Welfare and the Food and Drug Safety Ministry announced on February 6 proposed enforcement regulations requiring tobacco manufacturers to test harmful substances within one month of product launch. The regulations implement the Tobacco Harm Management Act passed in 2023, which takes effect November [...]
SEOUL, Feb. 6 (Korea Bizwire) – The finance ministry plans to block access to the Chinese artificial intelligence (AI) service DeepSeek, a ministry official said Thursday, in the latest of Seoul’s restrictions on the use of the service among officials amid data collection concerns. “Due to multiple technical concerns raised about DeepSeek from home and [...]
SEOUL, Feb. 5 (Korea Bizwire) — South Korea will spend 208.8 billion won (US$143.7 million) this year on global technology cooperation projects as part of efforts to bolster the country’s technological competitiveness, the industry ministry said Wednesday. The amount marks a 25.9 percent increase from the corresponding tally for last year, according to the Ministry [...]