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. [...]
SEOUL, July 6 (Korea Bizwire) — The government is considering a measure that would require butane canisters to have an explosion prevention function starting in 2023. The Ministry of Trade, Industry and Energy announced a plan to require all types of butane canisters to be explosion proof by revising the enforcement ordinance of the High [...]
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 [...]
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 [...]
SEOUL, May 21 (Korea Bizwire) — A series of accidents related to the use of compound bows, primarily used for leisure activities, has sparked controversy over how to restrict their use. The controversy began after a teenage son shot his father with a compound bow last month during an argument, resulting in a court’s probation [...]
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 [...]
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 [...]
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 [...]
SEOUL, Feb. 15 (Korea Bizwire) – The environment ministry said Monday it has revised a set of laws to limit the use of plastic and other disposable items as the country grapples with soaring waste amid the coronavirus pandemic. The revisions, which will be subject to a public review from Tuesday until March 29, include [...]
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 [...]