SEOUL, Aug. 19 (Korea Bizwire) — South Korea’s tax agency said Thursday it has launched probes into suspected tax evasion by 97 young people who acquired houses through undue wealth transfers from their parents. The National Tax Service (NTS) said it has conducted a crackdown on underaged people who own expensive apartments and houses even [...]
SEOUL, Aug. 2 (Korea Bizwire) — The number of households with children under 18 years old fell below 5 million for the first time in 2019 amid a chronically low birthrate, data showed Monday. The number of households with children under 18 came to 4.87 million in 2019, down from 5.04 million the previous year, [...]
SEOUL, March 9 (Korea Bizwire) — The number of stock accounts held by South Koreans under 18 years of age has shot up over the past two years, with the value of the stocks they hold almost doubling. The number of minors who have their own stock accounts stood at 187,532 in 2018, 204,696 in [...]
SEOUL, Nov. 10 (Korea Bizwire) — South Korean insurance companies will now be obliged to undergo deliberations by internal committees before exercising indemnity rights against minors and economically vulnerable people and the result of the deliberations should be disclosed to the public. This move is part of efforts to prevent the recurrence of a controversy [...]
SEOUL, Oct. 7 (Korea Bizwire) — More than three quarters of minors who have purchased a home in Seoul revealed that they made such purchases not for living but for rental purposes. Rep. So Byung-hoon, a lawmaker from the ruling Democratic Party and a member of the Land, Infrastructure and Transport Committee of the National [...]
SEOUL, Sept. 15 (Korea Bizwire) — The Sentencing Commission on Tuesday proposed amendments to the sentencing guidelines for producers of sexual exploitation content involving minors. The commission, affiliated with the Supreme Court of Korea, recommended a court issue a tougher punishment of up to 29 years and three months in jail term for a serious, [...]
SEOUL, June 30 (Korea Bizwire) — South Korea announced a set of guidelines for minors’ appearances on YouTube and content on Tuesday in an effort to protect their human rights. The measures, unveiled by the Korea Communications Commission, advise children and teens not to appear on YouTube or other internet broadcasting programs for three or [...]
SEOUL, Dec. 30 (Korea Bizwire) — In the future, minors will be allowed to practice animal dissection only under certain exceptional circumstances, and fines will be imposed on those who violate this directive. The Ministry of Agriculture, Food and Rural Affairs on Sunday announced a revision to the enforcement ordinance that sets the standard for [...]
SEOUL, Oct. 17 (Korea Bizwire) — Illegal sales of cigarettes to minors at convenience stores in Seoul have sharply fallen over the past five years, the government of Seoul said Thursday, citing data on its crackdowns. According to the data, the ratio of illegal cigarette sales to youth by convenience stores in the capital city [...]