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S. Korea’s Cabinet OKs Revised Enforcement Decree on In-app Payment Law

S. Korea’s Cabinet OKs Revised Enforcement Decree on In-app Payment Law

SEOUL, March 8 (Korea Bizwire) — South Korea’s Cabinet on Tuesday approved a revised bill that would ban app store operators from forcing developers to use their own in-app payment systems, the country’s telecommunications regulator said. The revision is a follow-up to the enforcement decree of the Telecommunications Business Act that went into effect in [...]

Assembly Passes Bill on Union Representation in Public Institutions’ Boards

Assembly Passes Bill on Union Representation in Public Institutions’ Boards

SEOUL, Jan. 11 (Korea Bizwire) – The National Assembly on Tuesday passed a bill that mandates a union representative be included on public institutions’ boards of directors. The lawmakers approved a bill during a plenary session that dictates public firms and quasi-public institutions must appoint one nonexecutive director recommended or picked by the head of [...]

Parliamentary Committee OKs Bill on Reducing Age of Eligibility for Joining Political Parties

Parliamentary Committee OKs Bill on Reducing Age of Eligibility for Joining Political Parties

SEOUL, Jan. 10 (Korea Bizwire) — A parliamentary committee on Monday approved a bill on lowering the age at which people can join a political party, a move seen as aimed at wooing young voters ahead of the March presidential election. The Legislation and Judiciary Commission passed the revised bill that calls for lowering the [...]

S. Korea to Introduce New Law to Bolster Privacy

S. Korea to Introduce New Law to Bolster Privacy

SEOUL, Sept. 29 (Korea Bizwire) — The government is stepping up to amend legislation to better protect people’s privacy as COVID-19 continues to speed up digitalization. The Personal Information Protection Commission, a South Korea’s data protection watchdog, said Tuesday that a new bill that amends the Personal Information Protection Act has passed the state council [...]

S. Korean Law Banning Google and Apple’s In-app Purchases Welcomed by U.S. Firms

S. Korean Law Banning Google and Apple’s In-app Purchases Welcomed by U.S. Firms

SEOUL, Sept. 3 (Korea Bizwire) — A U.S.-based group of companies is celebrating the passing of the revised bill of the Telecommunications Business Act in South Korea to curb the sway of Google and Apple when it comes to app store fees. One U.S. game developer welcomed the news, calling himself “a Korean.” “As President [...]

DP Lawmakers Withdraw Contentious Bill Banning Slander of Ex-wartime Sexual Slavery Victims

DP Lawmakers Withdraw Contentious Bill Banning Slander of Ex-wartime Sexual Slavery Victims

SEOUL, Aug. 28 (Korea Bizwire) — A group of ruling party lawmakers have withdrawn a controversial bill designed to curb slander of former wartime sexual slavery victims and their advocacy groups, in the face of strong criticism from opposition parties. According to a National Assembly website tracking legislative bills, the proposal to revise the act [...]

Alternative Holiday Bill Passes National Assembly

Alternative Holiday Bill Passes National Assembly

SEOUL, June 29 (Korea Bizwire) – The National Assembly on Tuesday approved legislation to increase alternative statutory holidays by designating a substitute holiday for all public holidays that fall on weekends. The alternative holiday bill passed the assembly’s plenary session, enabling the designation of official substitute holidays for all public holidays that happen to coincide [...]

Revised Law to Allow Confiscation of Seed Money in Stock Manipulation Cases

Revised Law to Allow Confiscation of Seed Money in Stock Manipulation Cases

SEOUL, May 23 (Korea Bizwire) — Stock manipulators will face confiscations of not only illegal gains but also their seed money under a revised capital market law that seeks to raise the integrity of the market. The National Assembly on Friday approved a partial revision to the Financial Investment Services and Capital Markets Act aimed [...]