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South Korea
Intelligence for Better Decision Making
South Korea's COVID-19 warning level and associated measures
May 2, 2024 | Indirect Indicator- South Korea has lowered its COVID-19 warning level and lifted all remaining antivirus mandates.
- The mask mandate at hospitals has been completely removed.
- Infection tests at high-risk facilities are now recommended rather than required.
- The government is no longer fully supporting costs for COVID-19 testing and hospitalization.
- Patients are now required to pay for oral antiviral medication.
- The free vaccination program will continue through the 2023-2024 season, after which it will limit to high-risk groups only.
- South Korea's new measures reflect a significant shift in its approach to COVID-19 management, focusing on sustainability and targeted strategies for handling the virus.
Expansion of child incentives in South Korea
May 2, 2024 | Indirect Indicator- A majority (62.58%) of respondents in a recent survey by the Anti-Corruption and Civil Rights Commission believe that providing 100 million won per child in childbirth and childcare expenses would motivate people to have more children.
- The survey, conducted to gather public opinions on overcoming the low birth rate crisis, involved 13,640 participants, with 63.59% supporting the idea of investing approximately 23 trillion won annually to address the low birth rate issue.
- Around half (50.98%) of participants agreed with diverting budget towards other purposes, such as local extinction response, to provide maternity support.
- The survey reflected a higher participation of women (57.21%) compared to men (42.78%), and a majority of married individuals (58.79%) expressed their opinions.
- There is a public divide on the concept, with some highlighting the benefits of large financial support for childbirth while others raise concerns about possible unintended consequences.
- The National Tax Service has reported an increase in the number of households applying for child incentives this year, more than doubling, with 3.9 million households eligible.
- The total amount being distributed is approximately 4.234 trillion won, with an average of 1.09 million won per household.
- As part of efforts to fight the low birth rate, the income standard for child subsidies has been raised, and the maximum payment per child has been increased.
- The National Tax Service warns against financial and text scams impersonating applications and reminds that they do not ask for money or account passwords.
- The National Tax Service has increased the number of counselors and improved the counseling services available as the demand for incentives increases.
Monitored Intelligence for South Korea - Jan. 29, 2024
News
Media
280
Government
Releases
7
City/State
Releases
0
Embassy
Releases
1
Foreign
Service
Advisories
0
Service
Advisories
0
Academic/
Think
Tank
0
Think
Tank
0
Podcasts
0
Videos
0
Social
Media
0
Business
Releases
0
Erudite Risk takes an all risks approach to intelligence reporting. We categorize key intelligence into one of 40 different risk intelligence categories.
The goal is to provide intelligence that allows decision makers to avoid being blindsided by what they may have missed, while informing them to make better decisions as well.
Risk Categories Reported on Today
Risk Category
Items Reported On
Crime
4
Accidents
3
Geopolitical Conflict and Disputes
12
North Korea
8
Terrorism
1
Political Scandal or Corruption
2
Cyber Attacks and Data Loss
2
Erudite Risk also includes operations categories so you can monitor the environment for better decision making. Everything is tied together--what happens in risk affects operations and what happens in the market impacts risk profiles.
We categorize key intelligence into one of 30 different operations intelligence categories.
Different roles and functions within the organization can monitor different key issue areas. HR may monitor employment, wages, regulations, labor and management relations, etc., while P&L leaders may monitor overall developing trends.
Operations Categories Reported on Today
Operations Category
Items Reported On
Demographics
4
Tech Development/Adoption
6
Trade Issues and Numbers
3
Politics and Elections
3
Political Policy Resistance
1
Bizdev-Partnering
6
Real Estate
3
Ruling party struggles to find new floor leader
Korea Times | English | News | May 2, 2024 | Politics and Elections
The ruling People Power Party is struggling to find a new floor leader as no one has stepped forward to run for the position. The party has extended the deadline for candidates and members will select a new floor leader at the general meeting of lawmakers-elect on May 9. There are concerns about the challenges the new floor leader will face, including forming an emergency committee and leading negotiations with opposition parties. Rep. Lee Chul-gyu, a close aide of President Yoon Suk Yeol, is rumored to be aiming for the position, although some party members believe he is not suited for the role. Other possible candidates mentioned include Rep. Song Seog-jun and Rep. Lee Jong-bae.
S. Korea lowers COVID-19 warning level, lifts last-remaining antivirus mandates
Yonhap | English | News | May 2, 2024 | Epidemics and Pandemics
South Korea has lowered its COVID-19 warning level and lifted the last remaining antivirus mandates, allowing for a return to pre-pandemic normalcy. Mask mandates at hospitals have been completely lifted, and infection tests before admission to high-risk facilities are now recommended rather than required. The government will no longer fully support COVID-19 testing or hospitalization costs, and patients will have to pay for oral antiviral medication. The free vaccination program will continue through the 2023-2024 season, but will later be limited to high-risk groups.
Mask mandate for hospitals lifted as Covid-19 alert lowered
Joongang Ilbo | English | News | May 2, 2024 | Epidemics and Pandemics
Mask mandate for hospitals and other medical facilities has been lifted as the national Covid-19 alert level has been lowered to the lowest tier, "concern," from the previous level, "alert." Most Covid-19 restrictions have been lifted, including indoor mask requirements and Covid-19 screening tests for visitors at infection-prone facilities. Additionally, the quarantine period for infected individuals has been shortened to 24 hours if symptoms improve, and government subsidies for Covid-19 tests and vaccinations have been reduced.
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