Proposed Bill: Partial Amendment to the Software Promotion Act Proposed by Rep. Yoon Doo-hyun (People Power Party) ● This amendment aims to minimize quality problems in software projects by allowing companies to participate in public domain software projects based on capacity. It exceptionally allows large enterprises to engage in design and planning projects that are ordered separately from software development pro.
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Virus-hit Jeju Air to receive state funding for survival |
A plane of Korean budget carrier Jeju Air off at Gimpo International airport in Seoul. (Jeju Air)
South Korea will inject 32.1 billion won (US$29 million) into the virus-hit budget carrier Jeju Air Co. to help it stay afloat amid the prolonged COVID-19 pandemic, a state lender said Thursday.
The Key Industry Stabilization Fund will extend 25.7 billion won in loans to Jeju Air and invest 6.4 billion won in the carrier s convertible bonds, the state-run Korea Development Bank, which operates the fund, said in a statement.
Jeju Air, the country s biggest low-cost carrier, is required to take steps, such as maintaining its current workforce, making efforts to improve its financial status, suspending payments of dividends to shareholders, the statement said.