regulations Archives | Be Korea-savvy
S. Korea to Lift Set of Regulations to Induce 300 bln Won of Investment

S. Korea to Lift Set of Regulations to Induce 300 bln Won of Investment

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 [...]

S. Korea to Lift Regulations, Expand Support for Industrial Clusters

S. Korea to Lift Regulations, Expand Support for Industrial Clusters

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 [...]

S. Korea to Ease Set of Tax Regulations in Property Market

S. Korea to Ease Set of Tax Regulations in Property Market

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 [...]

Gov’t Sets Strict New Inter-floor Noise Regulations

Gov’t Sets Strict New Inter-floor Noise Regulations

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 [...]

Foreign Crypto Exchanges Seek Distance from Korea Ahead of Tighter Regulations

Foreign Crypto Exchanges Seek Distance from Korea Ahead of Tighter Regulations

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, [...]

Top Official Draws Wrath of Cryptocurrency Investors, Spurs Political Discussions

Top Official Draws Wrath of Cryptocurrency Investors, Spurs Political Discussions

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 [...]

S. Korea Takes First Step Towards Construction of LPG-powered Ships

S. Korea Takes First Step Towards Construction of LPG-powered Ships

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 [...]

Gov’t Relaxes Regulations for Self-driving Vehicle Road Tests

Gov’t Relaxes Regulations for Self-driving Vehicle Road Tests

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 [...]