SEOUL, Dec. 28 (Korea Bizwire) — The government will buy 200,000 tons of locally produced rice this year to help stabilize the market price of the staple grain, the ruling party said Tuesday following a meeting with agriculture authorities. “Of the surplus amount of 270,000 tons of rice, the government will isolate 200,000 tons from [...]
SEOUL, Dec. 23 (Korea Bizwire) – The government will cut credit card processing fees for small merchants to ease their burdens amid the COVID-19 crisis, the ruling Democratic Party said Thursday following its meeting with financial authorities. The commission rate for small merchants with an annual revenue of below 300 million won (US$252,550) will be lowered from [...]
SEOUL, Dec. 23 (Korea Bizwire) — A trial run of hydrogen-powered heavy duty trucks kicked off Thursday as part of South Korea’s broader efforts for a shift to eco-friendly vehicles in line with the carbon emission cut initiative. Five 11-ton fuel cell trucks, including Hyundai Motor Co’s Xcient, will run on roads in the Seoul [...]
SEOUL, Dec. 22 (Korea Bizwire) – The Ministry of Science and ICT on Tuesday made an administrative notice on the upward revision of the output standards for some Wi-Fi 6E (6th Generation Extended) frequency bands. Compared to existing Wi-Fi 6, Wi-Fi 6E that uses the 6 gigahertz (GHz) frequency band (5,925∼7,125 megahertz (MHz)) is up [...]
SEOUL, Dec. 21 (Korea Bizwire) — South Korea plans to spend 2.4 trillion won (US$2 billion) next year to help double the accumulated sales of hydrogen and electric cars, the finance minister said Tuesday, in the latest move to reduce greenhouse gas emissions. Finance Minister Hong Nam-ki said the government aims to raise the accumulated [...]
SEOUL, Dec. 20 (Korea Bizwire) — The government plans to differentiate the level of compensation it pays to medical institutions taking care of COVID-19 patients depending on the length of the patient’s stay. The Central Disaster Management Headquarters, which operates under the umbrella of the Ministry of Health and Welfare, recently held a compensation deliberation [...]
SEOUL, Dec. 17 (Korea Bizwire) — The government and a steelmaker have joined hands to make iron with livestock excrement. The Ministry of Agriculture, Food, and Rural Affairs signed an agreement with the National Agricultural Cooperative Federation and Hyundai Steel Co. to produce solid fuel from cow excrement. They plan to use livestock excrements to [...]
SEOUL, Dec. 16 (Korea Bizwire) — The government plans to subsidize 2,500 small and medium-sized firms to achieve carbon neutrality starting next year, and continue to expand support by 10 percent every following year. The Ministry of SMEs and Startups announced the new initiative on Wednesday, which includes investing 474.4 billion won (US$400 million) next [...]
SEOUL, Dec. 1 (Korea Bizwire) — The government said Tuesday it will promote wider access to real estate-related public data as a way to cultivate the real estate service industry, including “proptech (property technology).” As the first step in this move, the government decided to expand access to the real-estate public data that is a [...]
SEOUL, Nov. 26 (Korea Bizwire) — South Korea plans to step up the production of clean hydrogen and expand its production and consumption infrastructures to make it the country’s No. 1 energy source by 2050, the industry ministry said Friday. The plans are part of the government’s comprehensive blueprint on the hydrogen economy, as the [...]