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New Savings Accounts Combine High Interest and Travel Benefits

New Savings Accounts Combine High Interest and Travel Benefits

SEOUL, Sept. 5 (Korea Bizwire) — Recently, commercial banks have been offering a series of “travel-themed” installment savings products. Subscribing to related products has become popular as account holders can receive airline mileage or travel-related benefits along with basic interest at maturity. On Wednesday, KEB Hana Bank unveiled its one-year installment savings product “My Trip,” [...]

Rights Watchdog Calls for Equal Disability Benefits for Refugees

Rights Watchdog Calls for Equal Disability Benefits for Refugees

SEOUL, April 27 (Korea Bizwire) – Refugees with disabilities are entitled to the same social security benefits as Korean nationals, South Korea’s human rights watchdog said Wednesday. The National Human Rights Commission of Korea said that it has asked the minister of health and welfare to revise the Welfare of Disabled Persons Act and related guidelines to ensure disabled refugees living in South Korea are treated equally [...]

S. Korea’s Unemployment Benefits Period Ranks Low Among OECD Nations

S. Korea’s Unemployment Benefits Period Ranks Low Among OECD Nations

SEJONG, March 22 (Korea Bizwire) – South Korea ranks low among the member nations of the Organization for Economic Cooperation and Development (OECD) in terms of the period during which jobless workers get unemployment benefits, a report said Wednesday.  The relatively shorter period for unemployment allowances is a testament to the low level of the [...]

S. Korea to Offer Foreign Tourists On-Spot Tax Refund Benefits Starting in Jan.

S. Korea to Offer Foreign Tourists On-Spot Tax Refund Benefits Starting in Jan.

SEJONG, Nov. 30 (Korea Bizwire) – South Korea will offer on-spot tax refunds to foreign tourists who buy products at local duty-free shops starting Jan. 1, the government said Sunday. The Finance Ministry said it is moving to revise existing exemption guidelines governing foreign tourists so they need not pay value-added and excise taxes when they shop in the country. Under the proposed changes, an item costing less than 200,000 won (US$173) [...]