SEOUL, Feb. 6 (Korea Bizwire) — South Korea unveiled plans for regulatory reform Thursday in a bid to promote innovation in new industries related to the fourth industrial revolution. Making public the 2020 road map for “regulatory innovations” in the economic sector, the government said it will allow new industries to develop in an amicable [...]
SEOUL, Mar. 29 (Korea Bizwire) — There is at least one industry in South Korea where hardly a day goes by without financial authorities mentioning deregulation: financial technology, or fintech. Since the National Assembly passed bills last September on a “regulatory sandbox,” in which fintech firms are allowed to experiment under amicable regulations, state regulators [...]
“What if medical doctors talk about the yin and yang and five elements, feel the pulses of patients and do acupuncture? How will the patients feel these practices? They will certainly feel that doctors are decorating themselves with Korean medicine. Licensing Korean herb medicine doctors to use medical equipment is like giving a license to [...]
SEOUL, Korea, April 18, 2014 (Korea Bizwire) – The Korea Customs Service held a regulatory reform meeting on April 17 and presented plans for easing regulations related to customs clearance. As part of the plans, the government agency said it would reduce the time it takes for goods purchased from overseas online retailers to go [...]
SEOUL, Korea, Mar 31, 2014 (Korea Bizwire) — The food truck that can be found in amusement parks and street corners selling hot dogs, sandwiches, and coffee will be run legitimately from the second half of this year. From May this year, Internet users can buy goods online without the cumbersome ActiveX-based public key certificate [...]