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S. Korea to Tighten Rules on Stock Short Selling amid Market Rout

S. Korea to Tighten Rules on Stock Short Selling amid Market Rout

SEOUL, March 10 (Korea Bizwire) — South Korea’s financial authorities said Tuesday they will tighten regulations on stock short selling as part of market stabilization measures amid increased fluctuations sparked by the outbreak of the new coronavirus and a slide in global oil prices. Finance Minister Hong Nam-ki said the government will temporarily ease its [...]

Real-name Registration System for Drones Coming Next Year

Real-name Registration System for Drones Coming Next Year

SEOUL, Feb. 19 (Korea Bizwire) — Starting next year, owners of drones weighing up to 2 kilograms or more will have to report their drone to the government. The Ministry of Land, Infrastructure and Transport on Wednesday announced legislation of the enforcement ordinance of the Aviation Safety Act, which classifies and manages drones based on [...]

S. Korea to Tighten Restrictions on Animal Experiments at Schools

S. Korea to Tighten Restrictions on Animal Experiments at Schools

SEOUL, Jan. 16 (Korea Bizwire) — South Korea said Thursday it will make it much harder for schoolchildren to dissect animals during science class starting in March, allowing the practice only when schools meet certain criteria. The new regulations are aimed at improving the public’s awareness of animal welfare, according to the Ministry of Agriculture, [...]

Netflix Ordered to Amend ‘Unfair’ Terms of Subscription in S. Korea

Netflix Ordered to Amend ‘Unfair’ Terms of Subscription in S. Korea

SEJONG, Jan. 15 (Korea Bizwire) — South Korea’s antitrust regulator said Wednesday it has ordered Netflix Inc., a global internet entertainment service provider, to amend “unfair” terms and conditions in its subscription contracts. The Fair Trade Commission (FTC) said Netflix is required to notify subscribers of its plan to change fees and obtain consent from [...]

New Government Regulations Limit Animal Dissection for Minors

New Government Regulations Limit Animal Dissection for Minors

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 [...]

Controversy Looms over New Legislation to Restrict Shopping Mall Operating Hours

Controversy Looms over New Legislation to Restrict Shopping Mall Operating Hours

SEOUL, Sept. 23 (Korea Bizwire) — South Korean shopping mall operators are paying attention to the National Assembly’s upcoming decision on a new legislative bill during the regular session that starts on Thursday. The ruling party is currently pushing for stricter regulations that would require large-sized malls, so-called super supermarkets (SSMs), and shopping complexes to [...]

Electric Kickboards Permitted on Bicycle Paths

Electric Kickboards Permitted on Bicycle Paths

SEOUL, Jul. 11 (Korea Bizwire) — Electric kickboards will now be legally allowed on bicycle paths. Although limited to certain areas and under strict regulations, electric kickboards are being legalized on bicycle paths for the very first time. The Ministry of Trade, Industry and Energy decided on Wednesday to make a special exemption to allow [...]