SEOUL, July 6 (Korea Bizwire) – A group of South Korean credit card companies said Wednesday they will consider taking legal action against Visa Inc. following the global payment network company’s recent decision to raise the card fees it receives from Korean card issuers starting next year. In May, Visa notified Korean card firms that [...]
SEOUL, July 5 (Korea Bizwire) – Visa Inc., a global payment network company, said Tuesday it will raise the fees for overseas credit card purchases using its networks it receives from South Korean credit card companies starting next year. In May, Visa notified Korean card firms of its planned fee hikes from October 2016. In [...]
SEOUL, June 27 (Korea Bizwire) – South Korea will toughen legal requirements for issuing the visa for foreigners engaging in entertainment and hotel services here, the government said Monday. There have been lingering reports that the holders of the E-6-2 visa, a requisite for non-Korean residents to perform in hotels, bars and clubs, end up [...]
SEOUL, June 13 (Korea Bizwire) – Korea’s eight major credit card companies (KB, Lotte, BC, Samsung, Shinhan, Woori, Hana, Hyundai) are planning to send an official letter to Visa Inc., protesting its plans to raise the commission for Korean customers’ international transactions. Visa notified the Korean companies in May of its plan to raise the [...]
CHUNCHEON, Mar. 2 (Korea Bizwire) — South Korea’s provincial authorities have doubled the period of visa-free entry for Chinese transfer passengers in the latest move to attract Chinese tourists, an official said Tuesday. Gangwon Province is allowing Chinese group tourists to stay up to 10 days without visas, an increase from the previous five-day limit, [...]
SEOUL, Jan.21 (Korea Bizwire) – To celebrate the year of tourism in Korea, visa fees for Chinese tour groups will be waived for a one year period. In addition, starting from the latter half of this year, tourism will be linked to Hallyu content, and a ‘Hallyu Visa’ for Chinese tourists on short trips will [...]
SEOUL, Oct. 1 (Korea Bizwire) – Korean-Vietnamese couples living in Korea will be able to visit Vietnam for a long period of time without a visa. On September 30, the Korean ambassador in Vietnam announced that the Vietnamese government had decided to allow the spouses and children of Vietnamese nationals living abroad to enter the country [...]
SEOUL, Aug. 31 (Korea Bizwire) – Foreigners who work in ‘root industries’ will have the opportunity to stay in the country permanently. The Ministry of Trade Industry and Energy and the Department of Justice announced that they would open the door to changing the visa status of foreign laborers, and will start a pilot project that verifies [...]
SEOUL, Jul. 15 (Korea Bizwire) — The visa issuance process will be simplified for foreign investors in reclaimed land in South Korea’s southwestern region, the Ministry of Justice and the Korea Agency for Saemangeum Development and Investment (KASDI) said Wednesday. With the modification, staff members and families of overseas firms that have invested more than [...]
FOSTER CITY, Calif., Feb. 13 (Korea Bizwire) –Visa Inc. (NYSE:V), the global leader in payments, today announced that it is expanding the use of new security technology that replaces the traditional 16-digit Visa account number with a unique series of numbers, helping to prevent exposure of sensitive consumer account information in online and mobile payments. [...]