Thanks to "bimmertek" for pointing me to the right direction....
The "16" and "24" SRS codes were mentioned in SI-720496 document (see attached pdf).
Last year, I thought it was the side airbag sensor (this sensor sits under the pass seat, under the carpet), which I replaced with no effect on the error codes.
The bottom line is: it is defective driver's side buckle. However, the BMW buckle has an explosive charge built into it and is therefore called "pretensioner" in BMW terminology. This pretensioner, in the event of a crash, fires the explosive charge to take up any slack in the seat belt. This feature is unique in modern BMW, my other cars (1998 Volvo V70 and Honda Odyssey van) do not have this feature. This feature reduces your torso from going forward in a crash. I am not sure if it is proven to help reduce injury, but in a crash every little bit of technology (may or may not) help.
Options:
1. Now, all I have is a small electrical tape covering the dash SRS light LOL.
2. For the near future, I will get a new pretensioner from BMW dealer. FYI, this has explosive charge in it so you cannot buy it online. You have to buy it from local BMW dealer.
Search realoem.com for proper PN (enter your VIN).
For my 1998 528i (build date 09/1997), the PN for driver side is 72118240045, about $130 at dealer
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