SEOUL, Dec. 28 (Korea Bizwire) — The National Assembly on Wednesday approved a legal revision meant to raise the ceiling on bond issuance by money-losing state-run Korea Electric Power Corp. (KEPCO) in order to prevent a liquidity crisis at the firm and ensure stable power supply. The partial revision allows KEPCO to raise its bond [...]
SEOUL, Dec. 6 (Korea Bizwire) — A parliamentary subcommittee on Tuesday passed a set of bills requiring the use of the international age counting system in all judicial and administrative areas, rather than the unique “Korean age” counting system. The legislative subcommittee of the National Assembly’s legislation and judiciary committee passed revisions to the Civil [...]
SEOUL, Aug. 2 (Korea Bizwire) — The ruling People Power Party (PPP) will propose a package of two bills to strengthen South Korea’s competitiveness in the semiconductor industry, the party’s special panel on chips said Tuesday. One of the bills calls for enabling a government committee to designate special zones on strategic industries and provide [...]
SEOUL, Feb. 4 (Korea Bizwire) — The amount of bills and coins that the central bank discarded due to damage declined nearly 40 percent as people increased the use of non-cash payments for consumption, data showed Friday. A total of 403.5 million damaged bills and coins were discarded last year, down 37.2 percent from 642.6 [...]
SEOUL, Feb. 28 (Korea Bizwire) – The National Assembly has approved a law revision that would step up the punishment for perpetrators of fatal child abuse in the wake of a series of recent deaths of abused children. The bill to revise the act on child abuse crimes passed a plenary National Assembly session Friday. [...]
SEOUL, Feb. 9 (Korea Bizwire) – The ruling Democratic Party (DP) on Tuesday vowed to legislate a set of bills that would increase the burden of responsibility of news media, internet portals, YouTubers and bloggers for fake or false news. “We decided to push for legislation under the principle that news media and internet portals [...]
SEOUL, Sept. 24 (Korea Bizwire) — South Korean business lobby groups said Thursday a series of bills that they claim would hurt corporate activities should be further discussed as they will have a far-reaching impact on their business operations and the economy as well. The government is pushing to pass a package of bills to [...]
SEOUL, Jan. 15 (Korea Bizwire) — The number of banknotes and coins destroyed due to damage or contamination reached a 10-year high in 2019, with the face value of the damaged bills and coins growing slightly from a year earlier, the central bank said Wednesday. The Bank of Korea (BOK) said it had to replace [...]
SEOUL, Nov. 26 (Korea Bizwire) — South Korean banknotes have different lifetimes depending on their face value, with larger bills outliving the smallest bills by up to three times due mostly to the frequency of their use, a central bank report showed Tuesday. According to the report from the Bank of Korea (BOK), the country’s [...]
SEOUL, Apr. 12 (Korea Bizwire) – A series of disaster-related bills have been proposed by the National Assembly amid frequent fires, including wildfires in Gangwon Province. Rep. Kang Byong-won of the ruling Democratic Party announced on Thursday that he would propose a revision to the Act for Development of Broadcasting and Communications that requires broadcasters to provide [...]