SEOUL, Aug. 27 (Korea Bizwire) — The price cap for meals for public servants and select other professions was raised to 50,000 won (US$38) from 30,000 won under a revised enforcement ordinance Tuesday. The revised enforcement ordinance to the Improper Solicitation and Graft Act, commonly known as the Kim Young-ran law, was approved by the [...]
SEJONG, Aug. 27 (Korea Bizwire) — Industry Minister Ahn Duk-geun has confirmed that the government will increase electricity prices after summer comes to a close, in an effort to ease financial burdens on Korea Electric Power Corp (KEPCO). “We plan to raise electricity bills,” Ahn said during a meeting with reporters in the central city [...]
SEOUL, Aug. 27 (Korea Bizwire) – South Korea has increased funding for North Korean defectors to support their early settlement as part of its budget proposal for next year, in line with its new unification blueprint. The unification ministry’s budget proposal, which was approved by the Cabinet on Tuesday, came to 1.55 trillion won (US$1.17 [...]
SEOUL, Aug. 27 (Korea Bizwire) — The government’s proposal of maintaining a tight budget in 2025 illustrated its commitment to fiscal policy normalization amid the tax revenue shortfall, but calls for greater fiscal policy roles have also grown in the face of weak domestic demand and longer-term growth momentum, experts said Tuesday. The finance ministry [...]
SEOUL, Aug. 26 (Korea Bizwire) – The Ministry of the Interior and Safety announced on August 25 that it will broaden its disaster alert system to include multiple languages, aiming to better inform the growing foreign population in South Korea during emergencies. The government has been sending disaster text messages in English and Chinese through its [...]
SEOUL, Aug. 25 (Korea Bizwire) – South Korean health care authorities on Sunday discussed ways to minimize possible fallout from a looming strike by a nationwide union of nurses and medical workers this week. On Saturday, members of the Korean Health and Medical Workers’ Union, which has some 30,000 nurses and medical workers at 61 [...]
SEOUL, Aug. 25 (Korea Bizwire) – The government and the ruling People Power Party (PPP) agreed Sunday to introduce a system mandating automakers to disclose the battery brand information of all electric vehicles (EVs). During a meeting between senior government officials and PPP officials, the two sides also agreed to launch at an early date [...]
SEOUL, Aug. 23 (Korea Bizwire) — The financial regulator said Friday it launched a new centralized program to allow consumers to opt out of credit services, such as taking out new loans, a move aimed at preventing potential damage from voice phishing scams. More than 4,000 financial institutions have signed up for the new “credit [...]
SEOUL, Aug. 23 (Korea Bizwire) – In the wake of heightened safety concerns, partly sparked by an incident involving Suga, a member of the K-pop group BTS, South Korean lawmakers are pushing for stricter regulations on the use of personal mobility devices (PMDs) such as electric scooters and kickboards. Several bills have been introduced in the [...]
SEOUL, Aug. 21 (Korea Bizwire) – South Korea’s National Assembly is advancing legislation to address the widespread rental fraud scheme known as “jeonse” scams, with the plight of foreign victims highlighting the complexities of the country’s unique housing market and the challenges of providing equitable support. On August 20, amendments to the Special Act on Jeonse [...]