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Gov’t to Toughen Noise Regulations for Motorcycles

Gov’t to Toughen Noise Regulations for Motorcycles

SEOUL, March 16 (Korea Bizwire) – The noise permission standards for the manufacturing and operation of motorcycles, which have remained unchanged over the past 30 years, will be strengthened to the level of foreign standards. The Ministry of Environment announced on Tuesday that it will improve the overall noise management system to reduce the noise [...]

Revised Veterinarian Act to Prevent Overcharging

Revised Veterinarian Act to Prevent Overcharging

SEOUL, Jan. 4 (Korea Bizwire) — The Ministry of Agriculture, Food and Rural Affairs has announced that a revised Veterinarian Act was promulgated with a focus on obligating veterinarians to inform customers about expected expenses for medical treatment and surgical procedures. Thus far, veterinarians were allowed to charge medical expenses arbitrarily, and it was difficult [...]

S. Korea Unveils Measures to Prevent Foreigners’ Illegal Property Transactions

S. Korea Unveils Measures to Prevent Foreigners’ Illegal Property Transactions

SEOUL, Dec. 22 (Korea Bizwire) — Finance Minister Hong Nam-ki said Wednesday the government will closely monitor foreigners’ real estate transactions in a bid to prevent cross-border flows of illegal funds and crack down on dubious deals. The government unveiled a set of measures to prevent foreigners from illegally buying real estate as some non-residents [...]

S. Korea Set to Permit Online Sales of Unifocal Glasses

S. Korea Set to Permit Online Sales of Unifocal Glasses

SEOUL, Dec. 1 (Korea Bizwire) — South Korea will open the door for locals to try on unifocal glasses virtually and purchase them online. The Ministry of Economy and Finance said Tuesday it drew a consensus on the online sales of unifocal glasses after having discussions with related parties and ministries through a coordination body. [...]

10 Crypto Exchanges File Applications to Register with KFIU

10 Crypto Exchanges File Applications to Register with KFIU

SEOUL, Sept. 24 (Korea Bizwire) – Ten cryptocurrency exchanges in South Korea have filed applications to register with the nation’s anti-money laundering body to continue their businesses under tougher regulations, according to the body Friday. By Friday midnight, both foreign and local cryptocurrency exchanges targeting Korean investors are required to register with the Korea Financial [...]

Mid-sized Crypto Exchanges Discontinue Korean Won Trading Pairs

Mid-sized Crypto Exchanges Discontinue Korean Won Trading Pairs

SEOUL, Sept. 17 (Korea Bizwire) — Medium-sized cryptocurrency exchanges in South Korea have discontinued trading pairs and payment services using the Korean currency as financial regulators are set to enforce tougher rules, according to market watchers Friday. By next Friday, both foreign and local cryptocurrency exchanges targeting Korean investors must register with the nation’s anti-money [...]

Safety Code Amended to Permit Sale of Modular Home Electronics

Safety Code Amended to Permit Sale of Modular Home Electronics

SEOUL, Sept. 9 (Korea Bizwire) — The government has set afoot efforts to promote the sale of modular home electronics products, aimed at enabling consumers to freely attach or detach specific functions or change external appearances of home electronics products just like they do for furniture. The Korean Agency for Technology and Standards said Wednesday [...]