SEOUL, March 25 (Korea Bizwire) — The Seoul Metropolitan Government announced on March 24 plans to develop sophisticated three-dimensional maps of traditional markets, addressing the long-standing challenge of locating specific vendors in these sprawling commercial spaces that lack the precise addressing systems found in modern buildings. The initiative, set to be completed by the end of this [...]
SEOUL, March 24 (Korea Bizwire) — The Seoul Metropolitan Government announced it will participate in a government-led pilot program allowing foreign domestic workers to be hired without the application of South Korea’s minimum wage law, sparking controversy over potential labor rights concerns. The initiative, jointly managed by Seoul City and the Ministry of Justice, aims [...]
ULSAN, March 24 (Korea Bizwire) — With South Korea’s shipbuilding industry experiencing its strongest boom in 15 years, the Dong-gu district of Ulsan is taking steps to better accommodate its rapidly growing foreign population with new comprehensive support measures. The district council recently passed amendments to its foreign resident support ordinance, requiring the local government to develop, [...]
SEOUL, March 20 (Korea Bizwire) — The government will provide incentives to public entities entering the offshore wind power market as part of efforts to promote the growth of the renewable energy industry, the industry ministry said Thursday. Public institutions and companies that make a bid for the government’s offshore wind power development project will [...]
SEOUL, March 20 (Korea Bizwire) — The South Korean government has unveiled a comprehensive plan to protect its steel industry from mounting trade risks, including the recent 25% tariff imposed by the Trump administration in the United States and an influx of low-cost Chinese steel. The Ministry of Trade, Industry and Energy announced on Wednesday [...]
JEONJU, March 20 (Korea Bizwire) — South Korea’s Rural Development Administration (RDA) announced on Wednesday that it had developed standardized guidelines for using honeybees and bumblebees as pollinators for mango trees. Mangoes are cross-pollinating crops that traditionally rely on flies attracted by seafood products for pollination on Jeju Island, the main production region in South Korea. However, [...]
SEOUL, March 19 (Korea Bizwire) — The government will push for the development of cloud computing technologies to bolster the data infrastructure of the country as part of efforts to foster new growth engines, the finance ministry said. The Ministry of Economy and Finance announced the plan as part of the new growth engine project, [...]
SEOUL, March 19 (Korea Bizwire) — Acting President Choi Sang-mok said Wednesday the government will use all available resources to curb the rise in home prices. Choi made the remarks in an economy-related ministers’ meeting, noting, “Home prices have been on a recent rise in some parts of Seoul.” “We will view the situation seriously [...]
SEOUL, March 19 (Korea Bizwire) — The government on Wednesday pre-announced the revision of tax laws aimed at replacing the decades-old estate tax system with an inheritance tax to ease tax burdens on beneficiaries, the finance ministry said. Under the proposed revision, South Korea will push to revise the inheritance tax and gift tax act,as [...]
SEOUL, March 19 (Korea Bizwire) — The Seoul city government on Wednesday said it will temporarily adopt the “land transaction permission system” in four affluent districts of the capital to help stabilize the real estate market, less than five weeks after it lifted the same regulation in two of those districts. The government has designated [...]