SEOUL, July 9 (Korea Bizwire) – South Korea achieved the average level in the product market regulation indicators set by the Organization for Economic Cooperation and Development (OECD) for the first time ever amid deregulation efforts, the finance ministry said Wednesday. As a comprehensive and internationally comparable set of indicators, product market regulation (PMR) indicators measure [...]
SEOUL, July 10 (Korea Bizwire) – Early repayment charges on loans will be lowered from mid-January next year as financial regulators revised rules, officials said Wednesday. Under the revised rules, lenders will only be allowed to collect the actual cost of making or handling the loans repaid in advance, along with any actual loss stemming [...]
SEOUL, Jul. 9 (Korea Bizwire) – In a bold move to bolster its artificial intelligence industry, the South Korean government has announced plans to release a wide range of personal data to businesses, researchers, and the public this year. The data, which will undergo pseudonymization, includes sensitive information such as college entrance exam scores, medical records, [...]
SEOUL, Jul. 8 (Korea Bizwire) — An institute affiliated with the unification ministry published new unification education guidebooks Monday that highlight the Yoon Suk Yeol government’s liberal democracy-based unification vision and North Korea’s increased threats against South Korea. The National Institute for Unification Education released two books used as the basic guidelines for unification education. [...]
SEOUL, July 4 (Korea Bizwire) – The Seoul city government said Thursday it will reinforce traffic signs and road markings on one-way roads as part of safety measures following a deadly car crash that left nine people dead earlier this week. “Although a no-entry traffic sign and a road marking are put up (at the [...]
SEOUL, July 3 (Korea Bizwire) – South Korean financial regulators have imposed a record fine of 27.1 billion won on two subsidiaries of a global investment bank for illegal short-selling practices involving transactions worth approximately 100 billion won. The Financial Services Commission’s Securities and Futures Commission announced on July 3 that it had voted to levy [...]
SEOUL, July 3 (Korea Bizwire) – The Seoul city government said Wednesday it will significantly beef up the strength of pedestrian guardrails and take other safety measures after a deadly car crash that left nine people dead earlier this week. On Monday night, a sedan driven by a 68-year-old darted in the wrong direction for [...]
SEOUL, Jul. 3 (Korea Bizwire) – The Game Rating and Administrative Committee of South Korea has intervened to stop a controversial promotional event by a domestic game developer that offered a luxury car as a prize for its newly launched online game. According to sources familiar with the matter, the committee recently rejected a content modification [...]
SEOUL, Jul. 3 (Korea Bizwire) — President Yoon Suk Yeol on Wednesday announced a 25 trillion-won (US$18 billion) package of support measures for struggling micro business owners, saying providing tailored support is better than universal cash handouts. Yoon unveiled the package during a meeting to discuss the direction of economic policy in the second half, [...]
GWANGJU, Jul. 3 (Korea Bizwire) – In a groundbreaking move, the Gwangju Goryeoin Village in South Korea has launched the country’s first Russian-language emergency alert system, addressing a long-standing communication gap for its ethnic Korean residents from post-Soviet states. On June 22, residents of the Goryeoin Village in Gwangsan District, Gwangju, received their first heavy rain [...]