South Korea's foreign exchange market will now operate until 2 a.m. starting Monday, aligning its hours with global standards. Additionally, the country's crypto market will undergo changes with the implementation of a new law aimed at protecting virtual asset users. The law will require crypto service providers to deposit users' crypto funds into separate bank accounts and allow banks to distribute the funds in case of exchange bankruptcy. The law will also introduce penalties for noncustodial parents who fail to provide financial support for their children. The government has also announced various other measures, including the expansion of drug addiction treatment centers, mandatory drug testing for conscripted individuals, and reductions in passport issuance fees and departure taxes. Furthermore, a work-study program will be introduced to train international students for professional employment in specific industries, with the aim of helping them transition to local companies and facilitating the recruitment of trained employees by businesses. These changes and initiatives are part of the government's efforts to implement new policies and measures in the latter half of 2024.
South Korea's foreign exchange market will now operate until 2 a.m. starting Monday, aligning its hours with global standards. Additionally, the country's crypto market will undergo changes with the implementation of a new law aimed at protecting virtual asset users. The law will require crypto service providers to deposit users' crypto funds into separate bank accounts and allow banks to distribute the funds in case of exchange bankruptcy. The law will also introduce penalties for noncustodial parents who fail to provide financial support for their children. The government has also announced various other measures, including the expansion of drug addiction treatment centers, mandatory drug testing for conscripted individuals, and reductions in passport issuance fees and departure taxes. Furthermore, a work-study program will be introduced to train international students for professional employment in specific industries, with the aim of helping them transition to local companies and facilitating the recruitment of trained employees by businesses. These changes and initiatives are part of the government's efforts to implement new policies and measures in the latter half of 2024.