SEOUL, Mar. 12 (Korea Bizwire) — Police said they are considering restricting elderly people’s driving at night and on expressways as part of measures to improve the nation’s traffic safety. The National Police Agency (NPA) said Tuesday that it will map out comprehensive measures including law revisions by year’s end to cope with a growing [...]
SEOUL, Dec. 13 (Korea Bizwire) – It has been reported that if game addiction is classified as a disease, the decrease in sales in the domestic gaming industry will be in the billions of won. Whether game addiction should be classified as a disease under the International Classification of Diseases (ICD) will be discussed at [...]
SEOUL, Nov. 26 (Korea Bizwire) — Owners of ‘noraebang’, karaoke venues where customers can rent private room to sing, took to the streets on Friday urging the government to allow them to sell beer and calling for stronger punishment against customers asking for illegal hostesses. The Seoul Karaoke Association staged a rally in the Yeouido [...]
SEOUL, Nov. 16 (Korea Bizwire) — The South Korean government is expected to move forward with new policies that would permit the installation of hydrogen charging stations in semi-residential areas and commercial areas as well as the establishment of drone zones in currently prohibited airspace. Such issues were addressed yesterday at the Central Government Complex [...]
SEOUL, Nov. 7 (Korea Bizwire) — The South Korean government is striving to come up with alternative profit-sharing schemes between large corporations and small-and-medium-sized companies with the intention of promoting a more horizontal relationship between them. The government is also looking to implement a coexistence model where both large corporations and SMCs can achieve a win-win [...]
SEOUL, Sept. 10 (Korea Bizwire) — South Korea’s financial watchdog said Monday it will provide a trial service of machine-readable regulation that would help companies better comply with state rules. As one of the financial technology sectors, machine-readable regulation allows companies to better meet regulatory requirements and avoid hefty fines. Financial Supervisory Service Gov. Yoon [...]
SEOUL, Aug. 31 (Korea Bizwire) – South Korea will mandate that foreign IT companies designate an official in charge of managing personal information, sources said Friday. According to the industry sources, a relevant law was passed through a regular session of the National Assembly a day earlier that makes it mandatory for companies without addresses [...]
SEOUL, Aug. 14 (Korea Bizwire) — With worry that peer-to-peer (P2P) lending financial corporations are on their last legs continuing to grow, two P2P associations that are leading the industry have each come up with their own regulations to be announced within the month. The Korea P2P Finance Association, a group that currently has 60 [...]
SEOUL, Jan. 30 (Korea Bizwire) – South Korea began a real-name trading system for cryptocurrencies Tuesday, banning the use of anonymous bank accounts in transactions to prevent virtual coins from being used for money laundering and other illegal activities. The real-name trading system is also part of the government’s latest measures to curb speculative investment [...]
SEOUL, Jan. 22 (Korea Bizwire) — The government plans to require cryptocurrency exchanges to share users’ transaction data with banks, in a potential move to impose taxes on the transactions, an official at financial authorities said Sunday. Currently, financial authorities ban banks from offering virtual accounts, which are needed to sell or buy cryptocurrencies, to [...]