The foreign currency market¡¯s closing time has been extended to 2 a.m. the next day and the departure fee to be paid when leaving the country has been lowered to KRW 7,000.

These are among new or revised measures adopted by a number of sectors such as finance, employment and tourism.

The Ministry of Economy and Finance on June 30 released an easy-to-read booklet on system and regulation changes taking effect in the second half of this year. It covers 233 policies collected from 40 public agencies.

In finance, the foreign currency market from July 1 closes at 2 a.m. the next day instead of 3:30 p.m. to raise convenience for domestic and foreign investors to exchange currencies and reduce transaction costs. Registered financial institutions abroad can also directly participate in the market.

Turning to employment, staff under the reduced workhour system for childcare can receive full wages over a longer period. Instead of getting 100% of salary for the first five hours not worked per week and 80% afterwards, as of July 1, they are entitled to 100% of regular pay for the first 10 hours per week capped at KRW 2 million.

Coming from the government¡¯s employment insurance fund, the subsidies allow laborers who work shortened hours due to child rearing to prevent career interruption and support work-family balance.

In travel, the mandatory departure fee was cut from KRW 10,000 to KRW 7,000 and its age of exemption was raised from under 2 to below 12. Adopted in 1997, the levy applies to all Korean nationals exiting the country through domestic airports or ports, and since July 1, 2004, its scope was expanded to foreign as well as domestic travelers.

Other changes include the expansion of forecasts for areas with high concentrations of ultra-fine dust, extension of the grace period for graduation by smart and medium enterprises from three to five years, and a one-stop solution center for victims of crime.

You can check the booklet on the ministry's website (http://whatsnew.moef.go.kr) in Korean.