SEOUL, Aug. 16 (Korea Bizwire) — South Korea will supply 2.7 million new homes in the next five years by easing regulations for redevelopment and reconstruction and allowing the private sector to join downtown development projects, the transport ministry said Tuesday. The home supply plan is the first of its kind since President Yoon Suk-yeol [...]
SEOUL, July 28 (Korea Bizwire) — The government said Thursday it would ease a total of 50 regulatory measures in an effort to promote corporate investment and to spur private sector-led growth. It is the first result of the Yoon Suk-yeol administration’s deregulation push, as it set up a task force last month to review [...]
SEOUL, July 21 (Korea Bizwire) — South Korea plans to cut corporate and income taxes in a bid to encourage companies to increase investment and reduce the tax burden on people troubled by high inflation, the finance ministry said Thursday. The Yoon Suk-yeol government unveiled details of its sweeping tax reform proposal as it aims [...]
SEOUL, July 12 (Korea Bizwire) — The industry ministry vowed Tuesday to provide companies in the nuclear power industry with work worth 130 billion won (US$99.04 million) this year in an effort to rebuild the sector and expand nuclear power generation. The work to be provided this year will be meant to improve related facilities [...]
SEOUL, July 1 (Korea Bizwire) — Government data on food nutritional information such as carbohydrates and fat will be open to the public. The Ministry of Food and Drug Safety announced that it had set up an integrated database of food nutrition information by standardizing the data dispersed throughout ministries and agencies, with the database [...]
SEOUL, June 21 (Korea Bizwire) — The government on Tuesday vowed to relax regulations on loans and tax deductions for tenants and to extend tax benefits to landlords who raise rental fees at a minimum level in a move to help ease financial burdens on tenants and stabilize the housing market. Under the Yoon Suk-yeol [...]
SEJONG, June 18 (Korea Bizwire) — The government has been considering expanding fuel tax cuts, as part of efforts to ease inflation pressure that has been building up amid surging energy prices, according to officials at the finance ministry Saturday. The government has been mulling expanding fuel tax cuts from the current 30 percent to [...]
SEOUL, June 17 (Korea Bizwire) — The Ministry of Science and ICT said Thursday that it had launched a pilot project to enable universities and small and medium enterprises (SMEs) to share ultra-large artificial intelligence (AI) models developed by large companies. Ultra-large AI refers to next-generation AI technology that uses large-capacity data and supercomputing infrastructure [...]
SEOUL, June 16 (Korea Bizwire) — South Korea said Thursday it will ease regulations and lower corporate taxes in the first major economic policy step by the government of President Yoon Suk-yeol, as it aims to support private sector-led economic growth amid heightened economic uncertainty. Facing economic headwinds, the government lowered its 2022 economic growth [...]
SEOUL, June 13 (Korea Bizwire) — The government unveiled a set of deregulation measures for high-tech education, subsidies for electric cars and healthcare on Monday in line with President Yoon Suk-yeol’s pledge to help the private sector lead economic growth. The measures will ease 33 restrictions on university education in high-tech sectors, state subsidies on [...]