SEOUL, Nov. 12 (Korea Bizwire) — President Lee Jae-myung on Tuesday instructed his economic team to explore new tax benefits for long-term retail investors, separating them from large shareholders to encourage stable investment while avoiding controversy over tax breaks for the wealthy. During a Cabinet meeting at the presidential office in Yongsan, Lee asked Deputy Prime [...]
SEOUL, Nov. 11 (Korea Bizwire) — The South Korean government’s plan to reform how medical clinics are paid for lab tests has sparked strong opposition from doctors, who say the changes threaten their income and overlook the realities of clinical care. The Ministry of Health and Welfare announced Monday that it will end the decades-old practice [...]
SEOUL, Nov. 11 (Korea Bizwire) — Seoul Metro said Monday it has begun pilot operations of mobile cooling tanks at major subway stations to better respond to the growing risk of battery-related fires. The portable tanks, equipped with wheels for easy movement within stations, are designed to help contain and extinguish fires caused by lithium-ion batteries. [...]
SEOUL, Nov. 10 (Korea Bizwire) — A presidential commission said Monday it has approved a goal to reduce South Korea’s greenhouse gas emissions by 53-61 percent from 2018 levels by 2035 in a bid to accelerate the transition to carbon neutrality while enhancing industrial competitiveness. The Presidential Commission on Carbon Neutrality and Green Growth said [...]
SEOUL, Nov. 7 (Korea Bizwire) – Government officials discussed Friday ways to supply public housing in the greater Seoul area through the use of idle state-owned land in order to meet the growing need for new homes in the capital region, according to the finance ministry. The meeting, attended by officials from relevant ministries and [...]
SEOUL, Nov. 7 (Korea Bizwire) — Culture Minister Chae Hwi-young on Friday visited Jongmyo Shrine in central Seoul with the head of the nation’s heritage agency and vowed to “take every possible measure,” including revising laws, to prevent high-rise buildings from being built directly across from the shrine. The visit came a day after the Supreme [...]
SEOUL, Nov. 7 (Korea Bizwire) — South Korea’s food safety regulator plans to introduce stricter labeling standards for decaffeinated coffee following growing concerns that many products marketed as “decaf” still contain significant amounts of caffeine. The Ministry of Food and Drug Safety (MFDS) announced Thursday that it will revise national labeling rules to allow coffee [...]
SEJONG, Nov. 6 (Korea Bizwire) — South Korea’s agriculture minister said Wednesday that restaurant companies should be required to inform customers when they reduce product sizes, as public anger grows over so-called “shrinkflation” — the practice of cutting portions while keeping prices the same. “It is a matter of consumers’ right to know,” Agriculture Minister Song [...]
SEOUL, Nov. 6 (Korea Bizwire) — Nearly half of running jackets tested in South Korea lost their water-repellent performance after several washes, a government consumer watchdog said Wednesday. The Korea Consumer Agency tested eight popular running jacket brands and found that four of them showed weakened water repellency after five washes. The test rated water repellency [...]
SEOUL, Nov. 6 (Korea Bizwire) — A majority of South Koreans say they do not trust the national pension system, according to a new survey released Wednesday by the Korea Employers Federation (KEF). In the poll of 1,007 adults conducted by Mono Research, 55.7 percent said they did not trust the National Pension Service, compared [...]