SEOUL, Dec. 3 (Korea Bizwire) – South Korea is introducing stricter penalties for crimes involving the unauthorized transfer of defense industry technology abroad, reflecting heightened concerns over national security. The Ministry of National Defense and the Defense Acquisition Program Administration announced on Tuesday that amendments to the Defense Industry Technology Protection Act were promulgated and will [...]
SEOUL, Dec. 3 (Korea Bizwire) – Starting January 1, 2025, South Korea will waive out-of-pocket costs for cesarean section deliveries, addressing a longstanding disparity in childbirth-related healthcare expenses. The Ministry of Health and Welfare announced on Tuesday that an amendment to the National Health Insurance Act Enforcement Decree, which includes this provision, was approved during a [...]
SEOUL, Dec. 2 (Korea Bizwire) – Seoul has launched its annual Fine Dust Seasonal Management Program, introducing strict measures to reduce air pollution during the winter months. Effective from December through March, vehicles classified as emissions grade 5—the highest polluters—are banned from operating on weekdays between 6 a.m. and 9 p.m., unless equipped with eco-friendly modifications. [...]
SEOUL, Dec. 2 (Korea Bizwire) — Long-distance freight transport using autonomous vehicles will begin trial operations on highways as part of an initiative to promote self-driving technology, the transport ministry said Monday. The ministry said it designated six new autonomous vehicle test zones, including those on major highways and areas in the cities of Suwon, [...]
SEOUL, Dec. 2 (Korea Bizwire) — South Korea’s oceans ministry said Monday that it plans to implement an enhanced crackdown on Chinese boats fishing illegally in the West Sea this week in cooperation with the Coast Guard. The country will work to round up boats fishing or operating illegally in South Korea’s Exclusive Economic Zone [...]
SEOUL, Dec. 2 (Korea Bizwire) – South Korea’s Fair Trade Commission (FTC) is taking action against Coupang, Naver, and Market Kurly for allegedly hindering consumers from canceling their paid memberships. Coupang, in particular, faces additional scrutiny for using deceptive “dark patterns” in its membership pricing and cancellation processes. Coupang’s “Wow Membership” program allegedly made mid-term cancellations [...]
SEOUL, Dec. 1 (Korea Bizwire) – In response to a proposal by the Seoul Metropolitan Government to allow foreign workers on E-9 non-professional employment visas to drive village buses, the Ministry of Employment and Labor announced it cannot accommodate the request under current regulations, citing safety and legal concerns. The ministry suggested the matter be addressed [...]
SEOUL, Nov. 30 (Korea Bizwire) – The South Korean Ministry of Education has announced adjustments to its timeline for introducing AI-powered digital textbooks, originally set for widespread implementation by 2028. The decision, unveiled on November 29, reflects growing concerns from educators about the suitability of such technology for certain subjects and the challenges of rapid adoption. [...]
INCHEON, Nov. 30 (Korea Bizwire) – Incheon, a metropolitan city on South Korea’s west coast, has recorded the nation’s highest birth rate growth in 2024, buoyed by bold pro-family policies. The city announced on November 29 that 11,326 babies were born in Incheon between January and September, an 8.3% increase compared to the same period in [...]
SEOUL, Nov. 29 (Korea Bizwire) – Despite the government’s initiatives to boost corporate value, the return on equity (ROE) of South Korea’s top companies has plummeted over the past three years, with average ROE nearly halving. ROE, a critical metric for evaluating value enhancement, measures net income relative to shareholder equity, reflecting how effectively a [...]