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[POLICY] Seoul city to revoke approval for the 2nd Lotte World Complex over another potential safety glitch
The business permit on the 2nd Lotte World Complex could be revoked and a ban could be issued over another safety glitch as the leak and fractures have become major public concern, said Seoul Metropolitan City on the 5th. The authorities have officially requested the company to strengthen safety mea
Jeansun Kim   2015-01-05
[POLICY] MSIP to pour 4 trillion won into science technologies and ICT R&D
The Ministry of Science ICT and Future Planning plans to invest up to 4 trillion won in science, technology and ICT R&D this year.MSIP announced on the 4th that it has confirmed the general R&D plan in science technology and ICT in 2015 with the budget up by 7.9% to 3.952 trillion this year from 3.6
Jeansun Kim   2015-01-05
[POLICY] In 2015, Korea셲 media industry will see a string of major changes set by KCC
In 2015, the KCC, Korea셲 communications watchdog, will implement a string of new changes in the local media industry such as allowing more ads for terrestrial broadcasting programs and creating a task force dedicated to crack down illegal subsidies for mobile phones.At the beginning of next year, t
Whowired News Team   2014-12-31
[POLICY] Korea셲 ICT minister set 2015 as the year to reinvigorate local ICT industry
The ICT ministry said on Wednesday that his ministry will implement a series of plans to reinvigorate the local ICT industry in 2015.Choi Yang-hee, the Ministry of the MSIF(Ministry of Science, ICT and Future Planning) said in his new year message, 쏫orea셲 ICT industry is losing its competitive edg
Whowired News Team   2014-12-31
[POLICY] Major changes in ICT regulations: anonymous texting banned from next year
Anonymous texting will be banned from next year to prevent the damages of telecommunications fraud including Smishing from this April. Also the texting regulations will be strengthened for companies to register for SMS marketing campaign from October next year.Smishing is a variant of phishing scams
Jeansun Kim   2014-12-31
[POLICY] Balance of current account stands at $100 billion in black
The current account balance is expected to be at $100 billion in surplus next year in Korea, in part driven by low oil prices and sluggish domestic demand, or more imports than exports.On the 31st, the National Assembly Budget Office released the 2015 Revised Economic Prospect that Korean current ac
Liz Kim   2014-12-31
[POLICY] Micro insurance to be sold at local stores from next year
Non-life micro insurance sales are now allowed at stores from the latter half of next year, as electronics stores handling tablet PCs and cameras can also sell damage insurance products.The Financial Services Commission said on the 30th that the revision on insurance industry bill passed the cabinet
Jeansun Kim   2014-12-30
[POLICY] MSIP and NIH to start working on Korea-US BT startup project
The Ministry of Science ICT and Future Planning said on the 29th that they chose 쏫orea-US BT tech startup project with American National Institutes of Health.The project was chosen based on the MOU signed by both parties last February to promote the values of the latest technologies in joint resea
Jeansun Kim   2014-12-29
[POLICY] Korea셲 consumer confidence index slid to lowest in 15 months
Korea셲 consumer confidence index fell to a 15-month low as the economy has not responded well to a series of stimulus plans by the government and interest cuts by the central bank.According to the monthly consumer report released by Bank of Korea on the 24th, the CCSI(Composite Consumer Sentiment I
Whowired News Team   2014-12-24
[POLICY] Korea announces an ambitious plan to develop 140 core equipment and technologies
The government has unveiled its master plan to develop strategic core technologies in various fields in its efforts to close the gap with advanced countries such as the USA and Japan in the core technology industry.The Ministry of Trade, Industry and Energy said on the 23rd that it has selected a to
Whowired News Team   2014-12-24
[POLICY] Korea Treasury bond to be issued for102.7 trillion won next year
The Ministry of Strategy and Finance said on the 23rd that they plan to issue102.7 trillion won of government bond next year for economic stimulus and government셲 fiscal spending. The volume of bond issuance is up by 5.3% from this year.MOSF also plans to adjust the volume given the short- and long
Jeansun Kim   2014-12-23
[POLICY] South Korea cut its 2015 growth forecast to 3.8% from July estimate of 4.0%
South Korea cut next year셲 growth forecast to 3.8% which is down by 0.2% from its estimate of 4.0% in July.The Ministry of Strategy and Finance said on the 22nd that the economy of South Korea will grow by 3.8% next year due to a gradual recovery of the global economy, falling oil prices and the go
Whowired News Team   2014-12-23
[POLICY] ICT service and solution marketplace opens
The Ministry of Science ICT and Future Planning joined hands with Public Procurement Service to boost ICT distribution eco-system.Those two government agencies signed MOU for the cooperation to build ICT distribution eco system at the Grand Ball Room Hall of Luna Miele in Yoido Seoul on the 23rd.Bot
Liz Kim   2014-12-23
[POLICY] Korean IT companies getting an impetus from the gov셳 on global market
Korean government sets up a task force to support the IT companies on the global arena.Minister Choi Yanghee of Science, ICT and Future Planning said on the 20th at a meeting with 10 heads of IT corporate association in Shanghai.Choi stressed the need to have old China hands for businesses in China
Liz Kim   2014-12-22
[POLICY] Korea to invest 230 billion won in gaming industry for the next five years
Korean government introduces Picasso Project investing a minimum of 230 billion won to give a new impetus to endangered domestic gaming industry throughout 2019.The Ministry of Culture, Sports and Tourism held over 20 meetings with game developers and professionals over the past 1 year to set up mid
Liz Kim   2014-12-18
[POLICY] The MSIP advised public institutions to increase R&D investment to 1 trillion next year
The MSIP(Ministry of Science, ICT and Future Planning) said on Wednesday that it has advised 19 public institutions in the country to increase next year셲 R&D spending to an average 2.03% of the total revenue, which is 0.4% up from 2014.On the 17th, the Ministry laid out the 2015 Advisory Plan for
Whowired News Team   2014-12-17
[POLICY] Safety probe into 2nd Lotte World after a death of construction worker
The Seoul Metropolitan City temporarily closed down the theater and aquarium at the 2nd Lotte World. Now a death of a construction worker has completely put a halt on the construction work of the concert hall at Lotte Shopping Mall.After the crack on the aquarium and tremors at the theater were repo
Liz Kim   2014-12-17
[POLICY] Korea laid out new disaster management blueprint using advanced science technology
The government has laid out a blueprint for new disaster management strategies utilizing advanced science and technology such as drones and robots in its effort to more swiftly and effectively respond to various natural and man-made disasters.On Tuesday, President Park Geun-hae presided the 16th Pre
Whowired News Team   2014-12-16
[POLICY] SMBA requests FTC to file administrative complaints against LG Electronics
The Small and Medium Business Administration held a meeting for 2nd administrative complaint process at Fair Trade Commission against LG Electronics and ABC Nanotech.The administrative complaint process is to bring charges against a major company, violated 5 fair trade laws and regulations in outsou
Liz Kim   2014-12-16
[POLICY] MOLIT to press charges against Korean Air셲 former VP Cho Hyun-ah
The Ministry of Land, Infrastructure and Transport imposes administrative penalty and measures on Korean Air over the infamous macadamia nut scandal.MOLIT decided to take the case to the prosecutor셲 office against Cho Hyun-ah, former VP at Korean Air. Cho has previously made issue with the in-fligh
Liz Kim   2014-12-16
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