SEOUL, Oct. 4 (Korea Bizwire) – It has been a week since a controversial anti-graft law took effect in Korea, quickly reshaping Korea’s gifting and dining culture. But the law is also breeding paparazzi, individuals who secretly monitor and hunt for activities that violate the law’s provisions. These paparazzi are called “Ran-Parazzi”, after the legislation [...]
SEOUL, Sept. 29 (Korea Bizwire) – The very first report of a violation of Korea’s new anti-graft law came around noon on Wednesday, with an anonymous person reporting a “college student giving a professor a can of coffee”. The controversial law had gone into effect starting Wednesday amid confusion and doubts over the law’s ambiguous [...]
SEOUL, Sept. 28 (Korea Bizwire) – Amid controversy and doubt, Korea’s new anti-graft law finally went into effect on Wednesday. The law makes it illegal for public officials, journalists, and private school faculty members (and their spouses) to accept meals priced higher than 30,000 won (US$27), gifts exceeding 50,000 won, and congratulatory and condolence money [...]
SEOUL, Sept. 28 (Korea Bizwire) – A much-debated anti-graft law came into force in South Korea on Wednesday, calling for workers in certain sectors who should maintain higher ethical standards and refrain from receiving any gift priced beyond a legal ceiling. Under the Kim Young-ran Law, people working for the government, media outlets and schools [...]
SEOUL, Aug. 29 (Korea Bizwire) – The South Korean government said Monday it has decided to maintain the existing price ceiling for the controversial anti-graft law that will go into effect in late September, despite rising concerns that the new policy will weigh down spending in certain industries. The remark came as the anti-graft law [...]
SEOUL, Aug. 24 (Korea Bizwire) – This year’s Korean Thanksgiving Day, or Chuseok, falls on September 15, inspiring weary Koreans with a long weekend holiday to look forward to from September 14 to September 18. As one of the two major traditional holidays in Korea, with the other being Lunar New Year, the rush for bus [...]
SEOUL, Aug. 22 (Korea Bizwire) – With the coming of the mobile era, company newsletters have rapidly become bygone relics of the past. But even the few companies that insisted on publishing printed editions of their newsletters have recently decided to change formats, which, according to industry watchers, is partly due to the new anti-graft [...]
SEOUL, Aug. 19 (Korea Bizwire) – The Ministry of Science, ICT and Future Planning announced Friday that it is currently in talks with IT and telecommunications companies to implement a ‘reject’ feature for mobile gift cards. The use of mobile gift cards and and coupons has grown prevalent in the past year or so due [...]
CHUNCHEON, Aug. 11 (Korea Bizwire) – A recent analysis has revealed that Gangwon Province’s agricultural and livestock industries are likely to suffer at least 50 billion won ($45.5 million) in losses from the implementation of Korea’s recent anti-graft law. The law, scheduled to take effect on September 28, made it illegal for public officials, journalists, [...]
SEOUL, Aug. 8 (Korea Bizwire) – South Korea’s controversial anti-graft law governing free meals and gifts is expected to have a negative impact on department stores, while coming as a boon to discounters, convenience stores and food makers, sources said Monday. Slated to go into effect on Sept. 28, the Kim Young-ran anti-graft law named [...]