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Chinese Cars with Korean-made Batteries Excluded from Chinese Subsidies

Chinese Cars with Korean-made Batteries Excluded from Chinese Subsidies

SEOUL, May 24 (Korea Bizwire) — Sources in China say that electric cars equipped with Korean-made batteries were not included in a list of cars awarded subsidies by the Chinese government. According to industry insiders, the Ministry of Industry and Information Technology in China announced on its website yesterday a list of car models that [...]

Tesla Model S 90D Receives Subsidy in S. Korea

Tesla Model S 90D Receives Subsidy in S. Korea

SEOUL, Sept. 22 (Korea Bizwire) — Tesla Motors Inc.’s Model S 90D is eligible to receive government subsidies in South Korea as the country has recently eased regulations involving battery charging time, the environment ministry said Friday. On Thursday, the Ministry of Environment notified the U.S. electric carmaker of its decision to include the Model [...]

Constitutional Court Upholds Law Restricting Subsidies on Mobile Devices

Constitutional Court Upholds Law Restricting Subsidies on Mobile Devices

SEOUL, May 26 (Korea Bizwire) — The Constitutional Court on Thursday upheld a law that restricts subsidies on the purchase of smartphones and other mobile devices. The regulation, which sets the legal limit of subsidies at 330,000 won (US$295), was adopted to bring transparency and stability to the market long distorted by subsidies as telecom [...]

Government Pledges to Pay SMEs Adopting Family Day Policy

Government Pledges to Pay SMEs Adopting Family Day Policy

SEOUL, Feb. 24 (Korea Bizwire) – Despite the public skepticism, the government is serious about its plan to implement a ‘Family Day’ to promote domestic consumption.  In a meeting chaired by acting president Hwang Kyo-ahn on Thursday, the government announced that it will designate one Friday a month as a “Day with Family,” on which [...]

Government Injects Funds to Resuscitate Shipbuilding Industry

Government Injects Funds to Resuscitate Shipbuilding Industry

SEOUL, Jan. 19 (Korea Bizwire) – The Ministry of Trade, Industry & Energy announced Wednesday that it will invest 245.1 billion won ($208 million) this year to help Korea’s dwindling shipbuilding industry diversify and hopefully breathe life into the sector.  The investment will be divided into four areas – R&D (5 billion won), commercialization (4.5 [...]

Compensation System to Stop Phone Sellers’ Illegal Subsidies to be Modified

Compensation System to Stop Phone Sellers’ Illegal Subsidies to be Modified

SEOUL, Jun. 4 (Korea Bizwire) — Phoneparazzi, a compensation system to hunt down phone sellers who illegally give monetary support to customers, will be modified to draw compensation money from both mobile distributors and telecommunications carriers. First introduced in June 2014, the Phoneparazzi system has been run by money solely provided by distributors. Anyone who [...]

Galaxy S6 Smartphones Suffer Weaker than Expected Sales in S. Korea

Galaxy S6 Smartphones Suffer Weaker than Expected Sales in S. Korea

SEOUL, Apr. 22 (Korea Bizwire) – Samsung Electronics Co.’s newest high-end smartphones – the Galaxy S6 and the Galaxy S6 Edge — are seen drawing less than expected attention from consumers, industry data showed Wednesday, casting clouds over the market’s upbeat sales estimate of over 50 million units for 2015. South Korea’s No. 1 tech [...]