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Hybrid Vehicles Excluded from Target for Distribution of Low-emission Vehicles

Hybrid Vehicles Excluded from Target for Distribution of Low-emission Vehicles

SEOUL, Jan. 26 (Korea Bizwire) — The Ministry of Environment announced that it would exclude hybrid and gas-powered vehicles from the target for distribution of low-emission vehicles. The low-emission vehicle distribution program was introduced to impose penalties on carmakers failing to increase the share of low-emission vehicles among their overall sales up to a certain [...]

Gov’t to Give Customers Right to Request Interest Rate Cut from Lenders

Gov’t to Give Customers Right to Request Interest Rate Cut from Lenders

SEOUL, Jan. 19 (Korea Bizwire) — The government plans to activate the customer’s right to request an interest rate cut from credit card and credit finance firms. The right to request an interest rate cut represents the borrower’s right to demand that financial companies lower interest rates when their wealth or credit conditions improve. The Financial [...]

Gov’t Sticks to Youth Vaccine Pass Despite Court’s Restraining Orders

Gov’t Sticks to Youth Vaccine Pass Despite Court’s Restraining Orders

SEOUL, Jan. 17 (Korea Bizwire) – The planned expansion of the government’s COVID-19 vaccine pass system to include 12- to 18-year-olds will be implemented in March as scheduled, a government agency said Monday, despite a Seoul court’s recent decisions to rein in the vaccine pass mandate at educational facilities. The Central Disaster and Safety Countermeasure [...]

S. Korea to Spend 6.3 tln Won for Corporate Investment in Vaccine Development

S. Korea to Spend 6.3 tln Won for Corporate Investment in Vaccine Development

SEOUL, Jan. 13 (Korea Bizwire) — Finance Minister Hong Nam-ki said Thursday the government plans to spend 6.3 trillion won (US$5.3 billion) to support corporate facility investment in vaccine development by 2024. The move is aimed at nurturing the vaccine industry as a key sector at a similar level to the semiconductor industry as South [...]

Gov’t to Support Corporate Hazard Management with Workplace Disaster Punishment Law to Take Effect

Gov’t to Support Corporate Hazard Management with Workplace Disaster Punishment Law to Take Effect

SEJONG, Jan. 10 (Korea Bizwire) — The government plans to provide support to companies in preventing and dealing with industrial hazards, as a new workplace disaster punishment law is set to come into effect this month, officials said Monday. The law, passed by the National Assembly last year, will go into effect on Jan. 27, [...]