SEOUL, Dec. 31 (Korea Bizwire) — South Korea will implement a new trade rule this week focusing on offering broader support for companies impacted by free trade agreements (FTAs) and other trade pacts, the industry ministry said Tuesday. The Act on Addressing Changes in Trade Environment, an upgraded version of the Act on Trade Adjustment [...]
SEOUL, Oct. 2 (Korea Bizwire) — The government on Wednesday unveiled additional financial support for low-income earners that include complete debt forgiveness for those who are willing but unable to repay their loans. The move comes amid sharp increases in household debts and the number of people going bankrupt. The number of people filing for [...]
GIMHAE, Aug. 25 (Korea Bizwire) — Animal enthusiasts from all over the country have come together to raise funds aimed at providing animal feed for a private zoo that has garnered controversy due to its cramped and outdated facilities. Recently, a diverse range of food supplies reached Bugyeong Zoo, located in Gimhae, South Gyeongsang Province. [...]
SEOUL, April 12 (Korea Bizwire) — “Secluded youth” that isolated from the outside world and incapable of carrying out a normal life will now be able to receive living stipends and medical support from the government. The Ministry of Gender and Equality said Tuesday that the amendment bill for the Youth Welfare Support Act’s enforcement [...]
SEOUL, Jan. 16 (Korea Bizwire) — South Korea will earmark 1.5 trillion won (US$1.22 billion) over the next 10 years for research and development projects aimed at nurturing second-tier, high-potential companies into global players and boost their exports, the industry ministry said Monday. It is part of the government’s comprehensive plan to boost the number [...]
SEOUL, Nov. 11 (Korea Bizwire) — South Korea’s defense ministry on Friday reaffirmed its commitment not to provide Ukraine with lethal military support, responding to a news report that Seoul is working on a “confidential” arms deal with Washington on the exports of artillery shells for use by Ukraine in its war against Russia. According [...]
SEOUL, Oct. 18 (Korea Bizwire) — South Korea decided to put more key technologies related to major materials, parts and equipment on its list for special management and support in a move to better ensure stable supply chains and to promote advanced industry sectors, the industry ministry said Tuesday. Following Japan’s exports curbs of key [...]
SEOUL, July 17 (Korea Bizwire) — The government and the ruling party on Sunday agreed to allow low-priced home owners to replace their floating rate-based borrowing with fixed ones as part of efforts to help ease their financial burden amid fast-rising borrowing costs. The decision was made at a policy consultation meeting between the government [...]
SEOUL, May 2 (Korea Bizwire) — The incoming government of President-elect Yoon Suk-yeol plans to spend 3 trillion won (US$2.37 billion) for five years from next year to help rehabilitate the tourism industry, which has been hit hard by the prolonged COVID-19 outbreak, the transition team said Monday. The new government will boost the post-COVID-19 [...]
SEOUL, Jan. 25 (Korea Bizwire) — A revised law on foreign residents in South Korea took effect Tuesday, granting Afghan evacuees administrative and financial support on par with recognized refugees, the justice ministry said. A total of 390 Afghans, mostly local helpers for South Korea and their families, arrived here in August to flee their [...]