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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 [...]

LG Display Welcomes Approval of Transparent Subway Window Advertising

LG Display Welcomes Approval of Transparent Subway Window Advertising

SEOUL, Sept. 1 (Korea Bizwire) — The government has decided to approve transparent OLED display advertising through the windows of public transport, welcome news for display maker LG Display Co., the only producer of such a product. While announcing recent cases of regulatory innovation, the office of government policy coordination revealed that it had decided [...]

Tougher Regulations Cast Shadow over Crypto Markets in S. Korea

Tougher Regulations Cast Shadow over Crypto Markets in S. Korea

SEOUL, Aug. 20 (Korea Bizwire) — Ko Kwang-nam invested 5 million won (US$4,251) in cryptocurrencies but lost about half of his holdings as the nation’s cryptocurrency markets showed signs of cooling down ahead of tougher regulations. As things stand, Ko, a 30-something office worker in Seoul, is likely to lose most of holdings because he [...]

Stricter Regulations on Shared E-scooters Force Companies to Turn to E-bicycles

Stricter Regulations on Shared E-scooters Force Companies to Turn to E-bicycles

SEOUL, July 22 (Korea Bizwire) — Electric scooter sharing companies are stepping up to diversify by introducing electric bicycles, or building parking spaces reserved for personal mobility vehicles. Following setbacks caused by a new mandatory helmet policy and stricter enforcement on illegal parking, these startups are trying to come up with alternative means of survival. [...]

S. Korea Toughens Regulations on Public Servants’ Real Estate

S. Korea Toughens Regulations on Public Servants’ Real Estate

SEOUL, June 20 (Korea Bizwire) — Government officials and public employees involved in real estate affairs will be required to register their assets with the authorities, the Ministry of Personnel Management said Sunday. The ministry last week preannounced the latest revision to the enforcement ordinance of the Public Service Ethics Act. The new rules will [...]

S. Korea’s Regulatory Barriers to Entry High Among OECD Countries: Experts

S. Korea’s Regulatory Barriers to Entry High Among OECD Countries: Experts

SEOUL, May 27 (Korea Bizwire) — A recent analysis showed that South Korea’s legal framework has created very high barriers to entry compared to other Organization for Economic Cooperation and Development (OECD) countries. Chung Man-ki, Chairman of the Korea Industry Alliance Forum, said in a forum held on Wednesday that according to the Product Market [...]