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Industry

South Korea eases rules on government research funding, adds research innovation budget line

South Korea is overhauling administrative rules governing government research funds to widen individual researchers’ discretion and reduce paperwork. The Ministry of Science and ICT said the Cabinet approved an amendment to the enforcement decree of the National Research and Development Innovation Act. The changes include a new direct-cost category called “research innovation expenses,” allowing flexible spending on routine items. Overhead spending rules will shift to a negative list, and pre-approval requirements for meeting expenses will be abolished.

Finance

Lee says stock market normalisation has only removed a few big stones

South Korean President Lee Jae-myung (이재명) said measures to normalise the stock market have only removed a few big obstacles and that further institutional reforms are needed. Speaking after receiving a Financial Services Commission report at a Cabinet meeting and emergency economic review session, he said the steps were showing effects. He also urged continued measures and asked when additional plans would be ready. Lee raised the market\'s undervaluation compared with other countries, and the FSC chairman agreed it remained undervalued versus corporate earnings.

Telecommunications & Media

Tighten oversight of bulk text messaging providers; briefing session to be held

A briefing session will be held to help businesses understand a system under which the government will pre-certify capabilities to prevent illegal spam ahead of its launch. The Ministry of Science and ICT and the Korea Communications Commission said they will hold an April 28 event in Seoul with the Korea Internet & Security Agency. Officials will explain how to apply for certification, screening procedures, tighter registration requirements and plans for annual checks.