SEOUL, June 7 (Korea Bizwire) — South Korea plans to lift a set of industrial regulations to try to induce combined private investment worth 300 billion won (US$231 million), the finance ministry said Wednesday. The plan, the fifth of its kind, will lift hurdles for five investment projects, including construction of production lines, according to [...]
SEOUL, June 1 (Korea Bizwire) — South Korea plans to revamp its policy on fostering industrial clusters to establish a self-sustaining ecosystem and expand ties with global partners, the finance ministry said Thursday. The move is in line with the government’s efforts to build global business concentrations that can bring up innovative firms in high-end [...]
SEOUL, Jan. 18 (Korea Bizwire) — South Korea’s finance ministry said Wednesday it plans to revamp a set of tax regulations on the property market to ease the financial burden of people amid soaring borrowing costs. Under the plan, South Korea will allow owners of two homes topay less taxes if they dispose of one [...]
SEOUL, March 30 (Korea Bizwire) — South Korea is on track to strengthen regulatory standards on floor noise, as well as to introduce an ‘ex-post inter-floor noise confirmation system’ to mandate multi-unit house developers to check the inter-floor noise prevention performance after completing apartment construction. The Ministry of Land, Infrastructure and Transport announced that it [...]
SEOUL, Aug. 17 (Korea Bizwire) — Some foreign cryptocurrency exchanges have distanced themselves from South Korea as Korean authorities are set to enforce tighter regulations against virtual coins. By Sept. 24, cryptocurrency exchanges targeting Korean investors must register with the nation’s anti-money laundering body and disclose their details on risk management. Under the tougher regulations, [...]
SEOUL, June 16 (Korea Bizwire) — South Korea on Wednesday announced a new set of measures for pet-related businesses to better protect animal rights in line with the growing number of pets in the country. Under the measures, puppy farms are obligated to make the width and length of cages at least 2.5 times the [...]
SEOUL, April 27 (Korea Bizwire) – One of South Korea’s top financial officials has recently drawn the ire of investors in cryptocurrency when he lectured them, saying they were walking “on the wrong path” and needed to correct themselves. Appearing in a meeting at the National Assembly on Thursday, Financial Services Commission (FSC) Chairman Eun [...]
SEOUL, Feb. 1 (Korea Bizwire) — South Korea took its first step towards the construction of liquefied petroleum gas (LPG)-powered ships with the Ministry of Oceans and Fisheries approving regulations with respect to the Korean Register’s inspection of eco-friendly LPG-fueled vessels. Korean Register is the nation’s classification society for ships and offshore structures. The newly-approved [...]
SEOUL, Dec. 21 (Korea Bizwire) – In response to regulatory moves in South Korean political and governmental circles that are focusing on Google Inc.’s commission policy, the U.S. tech giant is taking a two-track approach of seeking conciliatory dialogue and increasing pressure. The Fair Trade Commission (FTC) is known to have submitted an evaluation report [...]
SEJONG, Nov. 20 (Korea Bizwire) — The government plans to allow the test run of shuttle vehicles without a driver’s seat and unmanned self-driving cars on ordinary roads once a temporary operating license is issued. The Ministry of Land, Infrastructure and Transport announced on Thursday that it will revise the regulations on temporary driving approval [...]