SEOUL, March 6 (Korea Bizwire) — The National Assembly on Thursday voted down a bill intended to loosen the eligibility requirement for the largest shareholder of an internet-only bank. A revision of the Act on Special Cases Concerning Establishment and Operation of Internet-only Banks failed to pass in parliament, as 82 of 184 lawmakers on [...]
SEOUL, Feb. 24 (Korea Bizwire) — South Korea’s legislative, judiciary, and administrative branches on Monday scrambled to ward off the spread of new coronavirus which forced state institutions to suspend and cut back their operations and events. The National Assembly called off its plenary session and temporarily closed its main buildings, possibly for the first [...]
SEOUL, Mar. 13 (Korea Bizwire) — South Korea’s parliament passed eight bills intended to better fight fine dust Wednesday as the country is struggling with its worst-ever particle air pollution. The legislation includes a revision to the disaster and safety management law to include high density of particulate matter as a “social disaster.” Such a [...]
SEOUL, Mar. 11 (Korea Bizwire) — Rival parties are speeding up deliberation on various bills on fighting fine dust pollution, with a goal of passing at least seven of them in a plenary session of the National Assembly this week, officials said Monday. The nation’s three biggest parties — the ruling Democratic Party, the main [...]
SEOUL, March 2 (Korea Bizwire) – The main opposition party ended its vote-blocking marathon filibuster Wednesday, opening the door for the normalization of parliament that has been paralyzed due to the political standoff over a government-backed anti-terrorism bill. Lee Jong-kul, floor leader of the main opposition Minjoo Party of Korea, stood at the podium of [...]
SEOUL, Feb. 10 (Korea Bizwire) – The National Assembly endorsed a resolution censuring North Korea’s recent rocket launch on Wednesday, demanding additional retaliation measures from the Seoul government. The resolution, which was put to a vote during an extra session, was passed 243-0, with five abstentions, three days after the North fired off a long-range [...]
SEOUL, Feb. 8 (Korea Bizwire) – The parliamentary committee on foreign affairs unanimously adopted a resolution on Monday, condemning North Korea’s defiant launch of a long-range missile a day earlier. On Sunday, North Korea lifted off what it claimed to be a rocket carrying a satellite in defiance of a series of United Nations’ resolutions [...]
SEOUL, Jan. 20 (Korea Bizwire) – Philip Morris Korea discounted the price of Marlboro and Parliament cigarettes by 200 won to 4,500 won from January 19. With the price decrease, the price gap between domestic and foreign cigarette products was erased in three years. The industry expects fierce competition for market share among tobacco brands in and [...]