SEOUL, Sept. 15 (Korea Bizwire) — The government plans to expand support for single-person households. The Ministry of Gender and Equality said Tuesday that it will begin a new project for community-building among single-person households as problems of isolation or depression are rising as a social issue. Individuals living alone will now be able to [...]
SEOUL, Sept. 13 (Korea Bizwire) — South Korea’s industry ministry on Monday designated eight additional hydrogen-focused businesses eligible to receive state financial support, in line with the country’s goal to slowly phase out conventional resources and go carbon neutral by 2050. The country launched a new law on promoting the hydrogen economy in February, under [...]
SEOUL, Sept. 3 (Korea Bizwire) — South Korea will invest around 1.6 trillion won (US$1.38 billion) over the next 10 years to expedite the development of key space technologies after the full lifting of U.S.-imposed restrictions on missile development, the arms procurement agency said Friday. Under the plan, diverse defense projects, such as the development [...]
SEOUL, Aug. 30 (Korea Bizwire) — South Korea said Monday it will begin providing emergency relief funds to people in the bottom 88 percent income bracket next week in the latest move to help them cope with the fallout from the pandemic. The government will begin to provide up to 250,000 won (US$215) per recipient [...]
SEOUL, Aug. 26 (Korea Bizwire) — South Korea said Thursday it plans to increase tax incentives for venture firms and support their drive for mergers and acquisitions (M&As) as part of efforts to nurture innovative startups. Under a vision to become one of the world’s major venture powerhouses, the government plans to support venture firms’ [...]
SEOUL, Aug. 25 (Korea Bizwire) — The government plans to increase the distribution of electric and hydrogen-powered taxis to 100,000 units by 2025. To this end, it intends to establish a collaborative venture with municipal governments and related industries. The Ministry of Environment on Tuesday formed a business agreement with the Seoul Metropolitan Government, the [...]
SEOUL, Aug. 25 (Korea Bizwire) — Close to two thirds of renewable energy companies in South Korea are skeptical about the government’s plan to raise the ratio of renewable energy supply to 20 percent of total power output by the year 2030. According to a survey conducted by the Korea Chamber of Commerce and Industry [...]
SEOUL, Aug. 24 (Korea Bizwire) — The government has decided to provide low-to middle-income families with multiple children with university tuition support as part of policies for youth, Cheong Wa Dae said Tuesday. President Moon Jae-in received a briefing on the scheme, details of which will be made public on Thursday, according to Cheong Wa [...]
SEOUL, Aug. 19 (Korea Bizwire) — South Korea plans to invest 1.6 trillion won (US$1.37 billion) in the next 10 years to secure core technologies for satellite development in the defense sector, the arms procurement agency said Thursday. The plan is part of a series of measures aimed at upgrading the country’s defense capabilities in [...]
SEOUL, Aug. 18 (Korea Bizwire) — South Korea aims to create around 1,800 companies that specialize in new 5G services in the next five years, the ICT ministry said Wednesday, to boost adoption of promising technologies powered by the latest generation networks. While the country commercialized 5G in 2019, companies have yet to fully harness [...]