SEOUL, Oct. 2 (Korea Bizwire) — The government on Wednesday unveiled additional financial support for low-income earners that include complete debt forgiveness for those who are willing but unable to repay their loans. The move comes amid sharp increases in household debts and the number of people going bankrupt. The number of people filing for [...]
SEOUL, Oct. 2 (Korea Bizwire) – The South Korean Fair Trade Commission (FTC) has initiated regulatory action against AliExpress, the popular Chinese online shopping platform, over allegations of false advertising. On September 30, the FTC sent a report detailing potential sanctions to an AliExpress affiliate responsible for product sales. The commission determined that the company’s advertisements, [...]
SEOUL, Sept. 28 (Korea Bizwire) – In a bid to safeguard its reputation as a premier travel destination, the Seoul Metropolitan Government has launched an undercover operation to investigate low-cost tour packages sold overseas. The initiative aims to curb the spread of so-called “dumping tourism,” which officials fear could tarnish the city’s image and lead to [...]
SEOUL, Sept. 27 (Korea Bizwire) — The government plans to invest 3.3 trillion won (US$2.5 billion) of its health insurance funding annually over the next five years to reform tertiary care hospitals to better prioritize the treatment of critically ill patients, the interior minister said Friday. Minister Lee Sang-min made the remarks during a government [...]
SEOUL, Sept. 26 (Korea Bizwire) – The South Korean government has announced a comprehensive plan to phase out the country’s dog meat industry by 2027, allocating more than 100 billion won in next year’s budget to support the closure of nearly 6,000 dog meat businesses nationwide. The Ministry of Agriculture, Food and Rural Affairs unveiled its [...]
SEOUL, Sept. 26 (Korea Bizwire) – South Korea will create a new visa program to attract foreign workers specializing in high-tech industries, the government said Thursday, as the country prepares for a society with a growing foreign population. Justice Minister Park Sung-jae announced the plan as part of a new immigration policy aimed at enhancing social [...]
SEOUL, Sept. 25 (Korea Bizwire) – The government will work to further advance its evaluation system for policy loans to startup businesses, a move aimed at identifying areas that can make the most out of the much-needed funds, the vice chief of the financial regulator said Wednesday. Kim So-young, deputy head of the Financial Services [...]
SEOUL, Sept. 25 (Korea Bizwire) – In a significant move to address electronic waste, South Korea’s Ministry of Environment announced on September 24 that it would broaden the scope of its recycling program to encompass a wider range of electronic devices, including Bluetooth earphones, clothes dryers, and electric scooters. The change, set to take effect in [...]
SEOUL, Sept. 25 (Korea Bizwire) – As the South Korean government moves to address medical shortages by allowing foreign-licensed doctors to practice, new data reveals that only 54.5% of foreign medical school graduates passed a key qualifying exam, raising concerns about the quality of care such a policy might introduce. The preliminary examination for medical licenses, [...]
SEOUL, Sept. 19 (Korea Bizwire) – Police will invest 9.1 billion won (US$6.8 million) over the next three years to develop technology for detecting deepfake, voice cloning and other fabricated content, the police agency said Thursday. The National Police Agency announced the investment as part of its budget plan for next year, which totals 13.54 [...]