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Seoul Unveils Plan to Invigorate Reverse Mortgages for Elderly Homeowners

Seoul Unveils Plan to Invigorate Reverse Mortgages for Elderly Homeowners

SEOUL, Nov. 13 (Korea Bizwire) — South Korea announced plans to kick-start the so-called reverse annuity mortgage market Wednesday in an effort to help support elderly homeowners financially. The measure, unveiled by a pan-governmental task force on population policy, would lower the age limit for applicants for reverse annuity mortgages to 55 from the current [...]

Gov’t Launches Cooperative Self-driving Week to Foster Technology Development

Gov’t Launches Cooperative Self-driving Week to Foster Technology Development

SEJONG, Nov. 11 (Korea Bizwire) — The South Korean government will arrange events to encourage the development of technologies for cooperative autonomous driving. The Ministry of Land, Infrastructure and Transport will hold a cooperative self-driving week Monday through Friday, where it will conduct an infrastructure inter-compatibility test and demonstrate technology for a platoon driving system. [...]

Gov’t Launches Rating System for Air Quality Monitors

Gov’t Launches Rating System for Air Quality Monitors

SEOUL, Nov. 11 (Korea Bizwire) — A certification rating system will be applied to air quality monitors to give consumers an idea of their relative performance. The Ministry of Environment said Sunday that it has been issuing performance certification ratings for 38 simple air quality monitors at four government-affiliated organizations, including the Korea Environment Corporation, [...]

Gov’t to Strengthen Crackdown on Irregularities in Private Education

Gov’t to Strengthen Crackdown on Irregularities in Private Education

SEOUL, Nov. 8 (Korea Bizwire) — The education ministry said Friday it will conduct a special crackdown on alleged irregularities in the private education sector, including high-priced consulting services tailored for college admission. The move is part of the government’s pre-emptive measures to tackle potential rises in expensive private tutoring services as the government has [...]

Gov’t to Look for Correlations Between Smoking and Loss of Productivity

Gov’t to Look for Correlations Between Smoking and Loss of Productivity

SEOUL, Nov. 6 (Korea Bizwire) — The government for the very first time has embarked on an investigation to find out how smoking can affect productivity during work. While there were assessments on the negative economic effects of smoking, such as higher medical bills, a study on the loss of productivity is the first of [...]

S. Korea Revises Education Policy to Tackle Population Decline

S. Korea Revises Education Policy to Tackle Population Decline

SEOUL, Nov. 6 (Korea Bizwire) — South Korea on Wednesday unveiled a set of measures aimed at restructuring the education sector, including adjusting the number of teaching posts, in its latest efforts to cope with a drastic population decline. The education policy blueprint, part of a pan-government policy proposal addressing the country’s demographic change, comes [...]

Gov’t Says No Chairs for Invigilators During College Entrance Exam

Gov’t Says No Chairs for Invigilators During College Entrance Exam

SEOUL, Nov. 5 (Korea Bizwire) — The Ministry of Education has effectively rejected requests from teachers’ unions to provide chairs for invigilators during the nationwide college entrance exam. The MOE sent a message to the teachers’ union indicating that the placement of chairs for the College Scholastic Ability Test (CSAT) supervisors was an issue that [...]

Gov’t Announces Massive Dementia Research Initiative

Gov’t Announces Massive Dementia Research Initiative

SEOUL, Oct. 30 (Korea Bizwire) — The government is set to make a significant investment over the next several years to develop early diagnosis, prevention and treatment technologies for dementia and to determine the causes of dementia. According to new plans announced by the government, the Ministry of Health and Welfare will team up with [...]