SEOUL, Feb. 28 (Korea Bizwire) — The government is under fire as it recently came to light that foreigners are also eligible for ‘Youth Hope Installment Savings’ accounts, high-interest savings plans introduced by the government for younger citizens. A 34-year-old office worker posted a petition on the website of the presidential office Cheong Wa Dae [...]
SEOUL, Feb. 13 (Korea Bizwire) — South Korea’s ICT ministry said Sunday it plans to spend 129.8 billion won (US$108.2 million) on ramping up data projects this year, including distributing “data vouchers” to support small and medium-sized businesses. The latest investment comes as part of efforts to utilize data collected from the so-called Data Dam [...]
SEOUL, Feb. 10 (Korea Bizwire) — The government on Thursday decided to distribute COVID-19 self-test kits for free to virus-prone facilities, such as childcare centers and nursing homes, starting Feb. 21. It will also ban the online sale of self-test kits from Sunday, making the purchase of such kits available only at pharmacies and convenience [...]
SEOUL, Feb. 8 (Korea Bizwire) — South Korea plans to invest 12 billion won (US$10 million) in developing high-performance, liquid-fuel engines by next year to ramp up the country’s decadelong space project, the ICT and science ministry said Tuesday. In 2020, South Korea unveiled the “Space Challenge” program with the aim of investing 49.6 billion [...]
SEOUL, Feb. 7 (Korea Bizwire) — The South Korean government launched an interagency team Monday tasked with helping North Korean defectors suffering from economic and psychological difficulties after resettlement here. The nine-member team, comprising officials from different government agencies, will provide support in fields ranging from education and employment to living and psychological counseling for [...]
SEOUL, Feb. 3 (Korea Bizwire) — South Korea will earmark 841 billion won (US$697.4 million) for research and development of key materials and parts this year in a move to reduce dependency on foreign supplies and boost competitiveness of local industries, the industry ministry said Thursday. It is up 22 percent from last year’s budget, [...]
SEOUL, Jan. 30 (Korea Bizwire) — South Korea’s foreign ministry will open an economic security center in March to help ensure stable supply chains of strategically vital goods and draft diplomatic strategies for emerging trade issues, according to Seoul officials Sunday. The in-house body is part of the government’s broader efforts to address concerns over [...]
SEOUL, Jan. 27 (Korea Bizwire) — The Ministry of Oceans and Fisheries said Wednesday it will earmark a budget of 38.1 billion won (US$31.6 million) over the next five years for a ‘marine space digital twin application and utilization technology development’ project as part of efforts to predict the damage that could arise from climate [...]
SEOUL, Jan. 26 (Korea Bizwire) — The Ministry of Agriculture, Food and Rural Affairs said Tuesday it will introduce standard guidelines to protect animals appearing in films, TV series and advertisements. This comes as a response to the recent death of a horse that was forced to trip and fall while filming the KBS historical [...]
SEOUL, Jan. 26 (Korea Bizwire) — South Korea said Wednesday it will invest 9 trillion won (US$7.51 billion) this year as part of its digital New Deal program to foster new tech industries in areas related to the metaverse and artificial intelligence. The New Deal was unveiled in 2020 with the aim of investing around [...]