SEOUL, Feb. 21 (Korea Bizwire) – The South Korean government has announced significant reductions in subsidies for Tesla’s “budget” electric vehicle, the Model Y RWD, which is equipped with lithium iron phosphate (LFP) batteries from China. According to the Ministry of Environment’s finalized guidelines for electric vehicle subsidies released on February 20, the subsidy for the [...]
SEOUL, Feb. 2 (Korea Bizwire) — South Korea’s industry ministry said Friday it plans to continue to engage in negotiations with the French government on its new electric vehicle (EV) subsidy policy with “unbiased data,” after it excluded domestically produced models from the program. “The government, along with local companies, will proactively address the French [...]
SEOUL, Dec. 21 (Korea Bizwire) — South Korea’s industry ministry held talks with business officials on Thursday to explore ways to address France’s subsidy policy for electric vehicles (EVs), which excluded models with high carbon emissions in the entire process including shipping. The discussion came after the list of EVs eligible to win subsidies in [...]
SEOUL, Dec. 19 (Korea Bizwire) — Benefits for working parents taking a leave of absence to take care of their babies will be increased to a maximum of 39 million won (US$29,981) per couple next year, the labor ministry said Tuesday. The Cabinet approved a revised Employment Insurance Act, reflecting expanded parental benefits, during a [...]
SEOUL, Dec. 14 (Korea Bizwire) – The Seoul Metropolitan Government announced on December 13 that more than 4,300 applicants have registered for the ‘Seoul Child Care Subsidy’ program in the three months since its initiation. This innovative project, launched in September, offers a monthly subsidy of 300,000 won to grandparents and other relatives within the fourth [...]
SEOUL, May 8 (Korea Bizwire) — Controversy is rising after several local authorities promised to subsidize the cost of treatment for young Koreans suffering from hair loss. The Saha District Council in Busan passed an ordinance on Wednesday to provide partial or full subsidies to young district residents undergoing treatment for hair loss, marking the [...]
SEOUL, April 11 (Korea Bizwire) — The Seoul city government will provide 1 million won (US$757.92) in a postpartum care subsidy starting in September to families with newborn babies in the capital, city officials said Tuesday. Under the program, all families that have lived in Seoul for at least six months will be entitled to [...]
SEOUL, Jan. 17 (Korea Bizwire) – The Seoul city government will provide a monthly subsidy of 300,000 won (US$242) to families relying on grandparents or relatives for child care as part of a project to help relieve the burden of raising children, officials said Tuesday. The city plans to invest a total of 14.7 trillion [...]
SEOUL, Feb. 21 (Korea Bizwire) — A court has ruled in favor of GM Korea Co., the South Korean unit of General Motors Co., in a lawsuit filed against the government’s decision to retrieve its subsidy provided for a facility the carmaker disposed of in 2019, sources said Monday. The suit was filed by GM [...]
SEOUL, Oct. 8 (Korea Bizwire) — More than half of the purchase subsidies that the South Korean government disbursed for purchases of electric two-wheelers last year turned out to be for ‘Made in China’ products. Rep. Kim Sung-whan, a lawmaker of the ruling Democratic Party, said on Wednesday during the parliamentary inspection of the Ministry [...]