SEOUL, March 5 (Korea Bizwire) — The government announced Wednesday its plan to create a 50 trillion-won (US$34.4 billion) fund to support the semiconductor, rechargeable battery, bio, artificial intelligence (AI) and other advanced industries as part of efforts to bolster South Korea’s industrial competitiveness. The plan was endorsed at a weekly meeting of economy-related ministers, [...]
SEOUL, March 4 (Korea Bizwire) — The government said Tuesday it plans to conduct inspections at 22,000 construction sites across the country this year to prevent defective projects and review on-site safety measures. The Ministry of Land, Infrastructure and Transport said it will collaborate with 12 agencies, including regional land management offices and the Korea [...]
SEOUL, March 4 (Korea Bizwire) — South Korea’s Fair Trade Commission (FTC) has imposed a hefty fine on Dunlop Sports Korea for restricting retailers from offering discounts on its golf clubs, a move deemed an illegal restraint of competition. The FTC announced on Monday that Dunlop Sports Korea would face a 1.865 billion won ($1.29 [...]
SEOUL, March 4 (Korea Bizwire) — The Seoul Metropolitan Government has announced a new initiative to prevent wild birds from colliding with buildings and transparent noise barriers. The city will be accepting participants for its ‘Wild Bird Collision Prevention Project’ from March 4 to March 18. The project aims to reduce injuries and fatalities among birds [...]
SEOUL, March 2 (Korea Bizwire) — South Korea has introduced stricter regulations on carrying lithium-ion power banks and e-cigarettes aboard airplanes, requiring passengers to keep them on their person and banning storage in overhead bins. The new rules, implemented on March 1, aim to enhance in-flight safety following a fire incident aboard an Air Busan flight [...]
SEOUL, March 1 (Korea Bizwire) — In an effort to curb noise pollution and protect residents’ rights, Seoul’s Jongno District has implemented a new policy restricting tourist access to Bukchon Hanok Village after 5 p.m. The policy, which took effect on March 1, designates a 34,000-square-meter area as a ‘Red Zone,’ where visitors are only allowed [...]
SEOUL, Feb. 28 (Korea Bizwire) — The South Korean Ministry of Agriculture, Food, and Rural Affairs announced an ambitious five-year animal welfare plan on February 27 that includes banning convicted animal abusers from owning pets and increasing fines for animal abandonment to 5 million won, marking a significant shift in the country’s approach to animal protection. [...]
SEOUL, Feb. 28 (Korea Bizwire) – The Seoul city government said Friday it will formally implement a policy to restrict tourist visits to a special management area of the city’s historic Bukchon Hanok Village, beginning March 1, and start to impose fines on violators. Under the policy meant to address overtourism, tourists are allowed to [...]
SEOUL, Feb. 27 (Korea Bizwire) — South Korea’s National Assembly passed the so-called ‘K-Chips Act’ on February 27, expanding tax benefits for semiconductor companies in a move aimed at strengthening the nation’s global competitiveness in chip manufacturing. The legislation comes at a crucial time as geopolitical uncertainties, including the new U.S. administration’s trade policies, add pressure [...]
SEOUL, Feb. 25 (Korea Bizwire) — South Korea will work to develop reference materials for advanced strategic industries, such as semiconductor and battery, by 2028 as part of efforts to strengthen its global competitiveness in the sectors, the industry ministry said Tuesday. The Korean Agency for Technology and Standards (KATS) will be in charge of [...]