SEOUL, Aug. 26 (Korea Bizwire) — South Korea said Thursday it plans to increase tax incentives for venture firms and support their drive for mergers and acquisitions (M&As) as part of efforts to nurture innovative startups. Under a vision to become one of the world’s major venture powerhouses, the government plans to support venture firms’ [...]
SEOUL, May 7 (Korea Bizwire) — South Korea will ship to India hundreds of oxygen cylinders and other medical supplies to help the country fight the resurgent COVID-19 pandemic, the foreign ministry said Friday. Seoul plans to send 230 oxygen concentrators, 200 oxygen cylinders with regulators, and 100 negative pressure isolation stretchers to the country [...]
SEOUL, April 12 (Korea Bizwire) — The government is gearing up to support the nation’s gas station industry, which is facing serial closures due to the prolonged COVID-19 pandemic and the growing popularity of eco-friendly vehicles. The Ministry of Trade, Industry and Energy recently issued a notice concerning the outsourcing of a study on how [...]
SEOUL, March 4 (Korea Bizwire) – South Korea’s ICT ministry said Thursday it will commit 96.8 billion won (US$86 million) this year to bolster the local 3-D printing industry. Last year, the country laid out a three-year plan to acquire new technology and components in 3-D printing to boost local manufacturing. The government provided 98.6 [...]
SEOUL, Aug. 27 (Korea Bizwire) — South Korea will provide further financial support for airlines hit by the new coronavirus outbreak on the condition that they push for self-help measures and keep their workforces, the transport ministry said Thursday. The government hopes that the additional financial package, including tax benefits, subsidies for employment and reduction [...]
SEOUL, May 7 (Korea Bizwire) — South Korea aims to expand its gaming industry by a third by 2024, as the sector is emerging as a powerful growth engine in the post-pandemic economy. The Ministry of Culture, Sports and Tourism on Thursday announced a five-year development plan, including relaxed regulations, increased support for businesses and [...]
MELBOURNE, AUSTRALIA, May 4 (Korea Bizwire) — UNITED SIKHS, a United Nations affiliated international non-profit, humanitarian relief, human development and advocacy organization, has had boots on the ground providing support and supplies to families in need during the COVID-19 pandemic all over the world including Australia. Before World Health Organisation (WHO) announced COVID-19 as pandemic, [...]
SEOUL, April 24 (Korea Bizwire) — South Korea’s two state-owned lenders said Friday that they will inject 1.2 trillion won (US$972 million) into the country’s top airline, Korean Air Lines Co., to help the company weather the impact of the COVID-19 outbreak on the airline sector. The Korea Development Bank (KDB) and the Export-Import Bank [...]
SEOUL, April 21 (Korea Bizwire) — As schools around the world are shutting down due to the coronavirus, Samsung Electronics Co. is stepping in to provide digital support for education. Samsung’s branch office in Spain and humanitarian organization Save The Children plan to give out 600 tablet PCs to children from impoverished families to support [...]
SEOUL, April 16 (Korea Bizwire) — South Korea’s large business groups are continuing to provide support to India, which has enacted strict measures to limit the spread of new coronavirus. Although factories have been closed due to the national lockdown, Korean companies have been increasing support activities for local residents most affected by the outbreak. [...]