SEOUL, Apr. 30 (Korea Bizwire) — The wage gap between regular and irregular workers in South Korea is widening despite an overall increase wages, new government data has revealed. According to data revealed by the Ministry of Employment and Labor on Sunday, irregular workers earned 44.8 percent of what regular workers earned every month in 2017. [...]
SEOUL, Apr. 30 (Korea Bizwire) — With South Koreans increasingly valuing emotional satisfaction in affordable purchases, the popularity of dessert cafés is soaring, to the detriment of fast food franchises. The South Korean dessert industry in 2016 reached 9 trillion won, accounting for 10 percent of the dining industry, according to sources close to the food [...]
DAEJEON, Apr. 30 (Korea Bizwire) — The most accurate standard time station to date in South Korea will begin its test broadcasts sometime next year. According to the Korea Research Institute of Standards and Science (KRISS), a new long-wave station will open early next year in Gyeonggi Province. Using a frequency between 50 and 100 kHZ, [...]
SEOUL, Apr. 30 (Korea Bizwire) — Samsung Display has adopted a timer for meetings as a 52-hour work week is set to take effect at the company next month. The move comes as part of the company’s efforts to follow the country’s push towards a ‘work smart’ culture, and will see meetings end after one or [...]
SEOUL, Apr. 27 (Korea Bizwire) — An animal shelter accommodating stray cats is under threat amid growing calls from NIMBYs to relocate the facility. Located on the rooftop of one of the Gangdong District Office buildings, the feral cat shelter is currently home to 15 stray cats that were found on the street and adopted by [...]
SEOUL, April 27 (Korea Bizwire) – The two Koreas have agreed to jointly participate in international sports competitions, including the 2018 Asian Games, following their historic summit on Friday, raising expectations of unified teams at upcoming events. The agreement was part of a joint declaration issued after South Korean President Moon Jae-in and North Korean leader Kim Jong-un held their monumental summit earlier in the [...]
GOYANG, South Korea, April 27 (Korea Bizwire) – Ri Sol-ju, the wife of North Korean leader Kim Jong-un, crossed the border in the Demilitarized Zone into South Korean territory Friday to attend a summit dinner hosted by South Korean President Moon Jae-in. Upon her arrival at the truce village of Panmunjom at 6:15 p.m., she [...]
SEOUL, April 27 (Korea Bizwire) – Hyundai Steel Co., South Korea’s second-biggest steelmaker by sales, said Friday that its first-quarter net profit plunged 48.2 percent from a year earlier due to a base effect. Net profit for the three months ending March 31 came to 177 billion won (US$164.7 million), compared with a net profit of 341.8 billion won a year earlier, the company said in a statement. The company said [...]
SEOUL, April 27 (Korea Bizwire) – It’s been announced that South Korean President Moon Jae-in and North Korean leader Kim Jong-un will be slurping up cold noodles made by an exceptional cook from Pyongyang in their banquet later in the evening as part of Friday’s historic summit. But some South Koreans were hours ahead of them as they scrambled [...]
SEOUL, April 27 (Korea Bizwire) – Elliott Advisors Ltd., a unit of U.S. activist hedge fund Elliott Management Corp., on Friday reiterated its demand for a holding company structure for Hyundai Motor Group. In a statement, the U.S. fund called on the Korean automotive group to merge Hyundai Motor Co. and Hyundai Mobis Co. into [...]