SEOUL, June 25 (Korea Bizwire) — South Korea said Friday it will strengthen support for homegrown COVID-19 vaccine development so that candidates can enter late-stage phase three clinical trials by the end of the year in a move to bolster its vaccine arsenal against the pandemic. The country will also step up efforts to develop [...]
SEOUL, June 24 (Korea Bizwire) — South Korea plans to invest 50 billion won (US$44 million) in a fund specializing in animation investment as part of efforts to boost the industry, the culture ministry said Thursday. The investment is part of a five-year plan aimed at increasing the local animation industry’s revenue to 1 trillion [...]
SEOUL, June 18 (Korea Bizwire) — South Korea said Friday it will develop over 100 miniature satellites over the next decade with the aim of establishing a national security monitoring system and testing next generation network communications in its latest push to strengthen its space industry. The Ministry of Science and ICT said it would [...]
SEOUL, June 4 (Korea Bizwire) – Taking a lesson from the COVID-19 pandemic, South Korea has decided to strengthen its protection and transport service for overseas citizens in case they are exposed to dangers like infectious diseases and other threats to their safety. The government held a national pending review and coordination meeting on Thursday [...]
SEOUL, May 28 (Korea Bizwire) — South Korea plans to impose a 20 percent income tax on capital gains from cryptocurrency transactions starting next year as planned, the government announced Friday, despite growing investor calls for delaying the taxation plan. The government announced the plan after discussing the matter during a vice-ministerial interagency meeting chaired [...]
SEOUL, May 21 (Korea Bizwire) — The government will listen to public opinions on whether or not to abolish the Family Rites Act concerning the order of wedding ceremonies and funeral procedures, etc., which has been criticized for being out of date. The Ministry of Gender Equality and Family and the Anti-Corruption and Civil Rights [...]
SEOUL, April 28 (Korea Bizwire) — South Korea said Wednesday it plans to invest 36.4 billion won (US$32.3 million) to build a new test bed to speed up the development of carbon-neutral ships. A new test center will also be built in Mokpo, 410 kilometers south of Seoul, where businesses and institutions can demonstrate their [...]
SEOUL, April 18 (Korea Bizwire) – South Korea said Sunday it will spend 42 billion won (US$37.6 million) by 2025 to develop a response system against illegal drones amid growing security threats from the fast-developing technology. A consortium of 23 companies and research institutes — which includes the Korea Atomic Energy Research Institute, the Korea [...]
SEOUL, April 16 (Korea Bizwire) — South Korea said Friday it plans to increase investment in research & development (R&D) on key technologies for next-generation vehicles in a bid to help local automakers take the lead in the market. Finance Minister Hong Nam-ki said the government will spend 367.9 billion won (US$328 million) in supporting [...]
INCHEON, April 13 (Korea Bizwire) — Alarm bells are ringing for South Korea’s convenience stores as the Ministry of Health and Welfare has announced a plan to crack down on cigarette ads starting from July. Under the current Tobacco Business Act and the National Health Promotion Act, convenience stores are required to prevent their in-store [...]