South Korea is enhancing the Saechulbal Fund to reduce debt burdens for small business owners and self-employed individuals.
New incentives for early and diligent repayment, expanded eligibility for payment deferral, and broader regional support are introduced.
These changes are being implemented in 2024 following a policy review by the Financial Services Commission.
South Korea is reforming personal delinquent debt management to protect borrowers and support financial recovery.
Key changes include enhanced debt adjustment, stricter oversight of debt sales, and improved statute of limitations practices.
The Financial Services Commission announced these measures at the second Inclusive Finance Grand Transition meeting on February 26, 2024.
South Korea’s Ministry of Land, Infrastructure and Transport has announced the 2030 Mobility Innovation Growth Roadmap.
The roadmap aims to accelerate AI-driven mobility, including autonomous vehicles and urban air mobility, with new regulations and infrastructure.
Key milestones include autonomous vehicle commercialization by 2027 and public UAM services by 2028.
South Korea has announced its first comprehensive plan to improve health and medical access for people with disabilities.
The plan includes integrated disability-friendly hospitals and expansion of health checkup institutions.
Implementation will occur from 2026 to 2030, with annual progress reviews and a mid-term evaluation in 2027.
Wando County in Korea is the primary producer of abalone, a prized seafood known for its health benefits.
Recent improvements in feed supply and aquaculture have enhanced abalone quality and availability.
As of 2023, Wando produces 74% of Korea’s abalone, with peak season from April to June.
Korea’s Ministry of Food and Drug Safety is working with Saudi Arabia to recognize a Korean halal certification body.
This move aims to simplify and reduce costs for Korean food companies exporting to Islamic countries.
As of June 2024, discussions and procedural cooperation are actively underway.