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The government will extend the duration of a tax break for Korean companies that bring their overseas production back home to 10 years from the current seven in a bid to facilitate investment and spur the ailing economy. It will also provide bigger tax breaks for a range of foreign workers who are increasingly prevalent in Korea's workforce amid a rapid population decline.
The government has decided to expand support for medical expenses and other welfare measures for multiple pregnancies, as the ratio of multiple births has risen recently, the Ministry of Health and Welfare announced, Thursday.
Korea has finalized preparations for the 25th World Scout Jamboree that will bring together over 43,000 teenagers from 150 countries, Gender Equality and Family Minister Kim Hyun-sook said, Tuesday, with only a week left before the event kicks off.
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Insurance companies will be allowed to acquire non-insurance firms overseas as early as the second half of this year. The move is part of policy directions announced earlier this week by the Financial Services Commission (FSC), the country's top financial regulator, aiming to strengthen local insurers' global competitiveness and foster long-term growth potential.