SEOUL, Jan. 13 (Korea Bizwire) — Amid increasing voices pointing out the shortage of charging infrastructure for electric vehicles (EVs), the government is taking steps to regulate those who monopolize the use of fast chargers. The fast chargers run by the state power firm Korea Electric Power Corp. (KEPCO) will automatically stop charging if the [...]
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 [...]
SEOUL, Jan. 4 (Korea Bizwire) — The Ministry of Food and Drug Safety announced on Monday that the so-called ‘shared kitchen’ system designed to allow multiple companies to share the same food production facilities will be implemented in full swing from this year. The shared kitchen trial project has been carried out since June 2019 [...]
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 [...]
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. [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]