SEOUL, Feb. 25 (Korea Bizwire) — The Seoul Metropolitan Government has announced plans to become the first local government in South Korea to develop and publish a “coexistence index” that will evaluate delivery platforms on their commitment to fair business practices and cooperation with small businesses. The initiative, aimed at curbing excessive commission fees and preventing [...]
SEOUL, Feb. 20 (Korea Bizwire) — In a move to curb China’s aggressive low-cost steel exports, the South Korean government has announced plans to impose anti-dumping tariffs of up to 38% on Chinese heavy steel plates. The decision, made on February 20, comes amid concerns over persistent oversupply from China and the looming impact of U.S. [...]
SEOUL, Feb. 20 (Korea Bizwire) — South Korea will push to develop its own version of ChatGPT, the artificial intelligence (AI) chatbot created by U.S.-based OpenAI, acting President Choi Sang-mok said Thursday, pledging full-scale government support for research and development (R&D). Choi made the remarks during a high-level committee meeting aimed at positioning South Korea [...]
SEOUL, Feb. 20 (Korea Bizwire) — South Korea will acquire 18,000 high-performance graphics processing units (GPUs) by the first half of next year to enhance the country’s artificial intelligence (AI) computing capabilities, the science ministry said Thursday. The government initially plans to secure 10,000 GPUs within this year for the launch of a new national [...]
SEOUL, Feb. 20 (Korea Bizwire) — In a move to ease burdensome regulations, the South Korean government has approved guidelines allowing bakeries to provide complimentary birthday candles with cake purchases, addressing a peculiar regulatory oversight that had technically criminalized the common practice. Until now, birthday candles were classified as “household chemical products,” making their distribution — [...]
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 [...]