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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 [...]

S. Korea Set to Partially Lift Ban on Stock Short Selling After 14 Months

S. Korea Set to Partially Lift Ban on Stock Short Selling After 14 Months

SEOUL, April 29 (Korea Bizwire) – South Korea’s financial regulator is set to partially lift its ban on short selling of listed stocks starting next week, about 14 months after it imposed it to cope with a stock market rout triggered by the COVID-19 pandemic. Although retail investors have urged financial authorities to prohibit the [...]

Registration Hurdles Lowered for Car Repair Shops and Automotive Auction Houses

Registration Hurdles Lowered for Car Repair Shops and Automotive Auction Houses

SEOUL, March 31 (Korea Bizwire) — Registration hurdles for car repair, scrapping, and auctioneering businesses will be lowered to allow for an influx of new companies. The Ministry of Land, Infrastructure and Transport announced Tuesday that a new bill that amends legislation on automobile management will soon take effect. The bill significantly lowers the hurdles [...]

S. Korea to Revitalize Agricultural Segment by Lifting Set of Regulations

S. Korea to Revitalize Agricultural Segment by Lifting Set of Regulations

SEOUL, March 9 (Korea Bizwire) – South Korea said Tuesday it plans to lift a set of regulations in the agricultural sector to harness more state-of-the-art technologies and foster new growth engines for the industry. Under the blueprint, South Korea will establish new smart farming clusters for a wider scope of areas covering livestock, according [...]

Financial Authorities to Ease Minimum Paid-in Capital Requirements to Promote ‘Mini Insurance’ Market

Financial Authorities to Ease Minimum Paid-in Capital Requirements to Promote ‘Mini Insurance’ Market

SEOUL, Feb. 5 (Korea Bizwire) — The minimum paid-in capital requirements for the establishment of insurance companies will be greatly eased to stimulate the market for ‘mini insurance’ businesses that specialize in everyday life-related insurance products such as policies for pets and travelers, South Korea’s financial authorities said Thursday. The Financial Services Commission announced that it will [...]