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 [...]
SEOUL, Jan. 20 (Korea Bizwire) — To ensure the health of flight attendants who are exposed to cosmic radiation during flights, the government plans to greatly strengthen government regulations regarding annual exposure limits. The Ministry of Land, Infrastructure and Transport said Tuesday that it had issued an administrative notice concerning the revision of the cosmic [...]
SEOUL, Dec. 29 (Korea Bizwire) — The government has decided to impose stricter measures to prevent abuse of refugee status applications with malicious intent to extend the duration of stay. The Ministry of Justice announced the introduction of a newly amended refugee law Monday that will reject all reapplications for refugee status unless an exceptional [...]
SEOUL, Nov. 2 (Korea Bizwire) – The safety management standard for BB guns will be strengthened in South Korea to prevent them from being illegally modified. The Korean Agency for Technology and Standards (KATS) announced on Sunday that it will issue a notice on the revision of the BB gun safety standards that would include [...]
SEOUL, Oct. 27 (Korea Bizwire) — The government is engaged in the final stages of discussion with related industries for approval of shared accommodation services for residents of urban areas. The talks, however, are stuck in a last-minute limbo as disputes have flared up over the government’s new regulations, which stipulate that such business may [...]
SEOUL, July 16 (Korea Bizwire) — New government regulations will require South Korean biotech companies to track and monitor patients who are injected with stem cells or gene therapy treatments. According to the Ministry of Food and Drug Safety on Wednesday, the Advanced Regenerative Bio Act, enacted to strengthen the safety management of advanced regenerative [...]
SEOUL, March 30 (Korea Bizwire) – South Korea’s financial authorities said Monday they have finalized enforcement rules for peer-to-peer (P2P) lending ahead of the implementation of a related act in August. The rules allow individuals to invest up to 30 million won (US$24,700) to be lent to those who are in need of loans and [...]
SEOUL, March 10 (Korea Bizwire) — South Korea’s financial authorities said Tuesday they will tighten regulations on stock short selling as part of market stabilization measures amid increased fluctuations sparked by the outbreak of the new coronavirus and a slide in global oil prices. Finance Minister Hong Nam-ki said the government will temporarily ease its [...]
SEOUL, Feb. 28 (Korea Bizwire) — Various vehicle models such as passenger cars, cargo trucks and special vehicles will now be able to be converted into recreational vehicles (RVs) or campers in South Korea. The Ministry of Land, Infrastructure and Transport said the lower statute of the Automobile Management Act, which includes deregulation measures to [...]