Subsidies Archives | Be Korea-savvy
EV Buyers Get the Jitters amid Heightened Possibility of Reduction in Subsidies

EV Buyers Get the Jitters amid Heightened Possibility of Reduction in Subsidies

SEOUL, Nov. 30 (Korea Bizwire) — Buyers of electric vehicles (EVs) who are waiting for delivery after signing purchase contracts are on edge due to delayed delivery amid the possibility of a reduction in EV subsidies. The Ministry of Environment set next year’s EV distribution target at 235,000 units, twice as high as this year’s [...]

S. Korea to Offer More Subsidies for Pregnancy and Childbirth Next Year

S. Korea to Offer More Subsidies for Pregnancy and Childbirth Next Year

SEOUL, Nov. 19 (Korea Bizwire) — Starting next January, the National Health Insurance Service (NHIS) will offer larger childbirth subsidies that are provided as credit/debit card vouchers. The Ministry of Health and Welfare and the NHIS announced Thursday that relevant legislation will come into effect on January 1, 2022. According to the new legislation, a [...]

SK Telecom Faces Criticism over Illegal Subsidies for Foreign Subscribers

SK Telecom Faces Criticism over Illegal Subsidies for Foreign Subscribers

SEOUL, May 26 (Korea Bizwire) — SK Telecom Co. has been found to be engaged in illegal marketing by offering foreigners additional subsidies in exchange for subscribing to the company’s service plans, generating criticism that the company’s reckless activities to attract more subscribers while evading regulations have resulted in discrimination against South Koreans. Industry sources [...]

Unmarried Foreigners Raising a Child of Korean Nationality Alone to Benefit from State Subsidies

Unmarried Foreigners Raising a Child of Korean Nationality Alone to Benefit from State Subsidies

SEOUL, April 7 (Korea Bizwire) – Low-income foreigners raising a child of Korean nationality alone will be eligible for the government’s monthly childcare support of 200,000 won (US$180) per month. The Ministry of Gender Equality and Family said that the Cabinet passed the revision of the enforcement ordinance of the Single-parent Family Support Act on [...]

Gov’t to Double Subsidies for Early Scrapping of Old Diesel Cars

Gov’t to Double Subsidies for Early Scrapping of Old Diesel Cars

SEOUL, Feb. 5 (Korea Bizwire) — Early scrapping of old diesel cars that cannot be fitted with low-emission devices will be subject to higher government compensation. The Ministry of Environment and the Ministry of Economy and Finance introduced a new project for early scrapping of diesel cars with grade 5 emissions on Friday. This year, [...]

S. Korea to Expand Subsidies for Eco-friendly Cars

S. Korea to Expand Subsidies for Eco-friendly Cars

SEOUL, Jan. 21 (Korea Bizwire) — South Korea said Thursday it plans to expand subsidies provided for electric vehicles and hydrogen fuel-cell automobiles this year in line with the country’s green energy drive. Under the plan, South Korea will allocate 1 trillion won (US$930 billion) to promote sales of electric cars, which marks a 25 [...]

Men Receive More Medical Subsidies for Mental Illness than Women

Men Receive More Medical Subsidies for Mental Illness than Women

SEOUL, Nov. 5 (Korea Bizwire) — Among recipients of medical subsidies provided by the government, the number of men diagnosed with mental illnesses was more than double the number of women. The Health Insurance Review and Assessment Service carried out assessments of 389 medical institutions that charged hospitalization fees for psychiatric treatment to subsidy recipients [...]