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 [...]
SEOUL, Jan. 20 (Korea Bizwire) — South Korea on Thursday unveiled a long-term road map to foster its metaverse industry, with the aim of becoming the world’s fifth-largest market in the next five years. Under the plan, South Korea will foster at least 220 metaverse companies with sales volumes of more than 5 billion won [...]
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 [...]
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 [...]
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 [...]
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, [...]
SEOUL, Jan. 6 (Korea Bizwire) — South Korea plans to provide around 40 trillion won (US$33.4 billion) in funds to pandemic-hit self-employed people and small firms in a bid to ease their financial troubles ahead of the Lunar New Year holiday, the country’s finance minister said Thursday. The government said the funds will be fresh [...]
SEOUL, Jan. 4 (Korea Bizwire) — The Ministry of Food and Drug Safety announced on Monday that the so-called ‘shared kitchen’ system designed to allow multiple companies to share the same food production facilities will be implemented in full swing from this year. The shared kitchen trial project has been carried out since June 2019 [...]
SEOUL, Dec. 30 (Korea Bizwire) — South Korea’s large companies will be eligible to receive incentives in the allocation of greenhouse gas emissions rights if they help small and medium-sized enterprises (SMEs) to reduce their emissions of greenhouse gases. The Ministry of Environment announced on Wednesday that it will revise guidelines concerning the acknowledgement of [...]
SEOUL, Dec. 29 (Korea Bizwire) — The Ministry of Science and ICT said Wednesday it will open up public Wi-Fi networks in case of network outages to help citizens gain access to basic telecommunication services. The decision came two months after KT Corp., a major South Korean telecom operator, suffered a nationwide network outage of [...]