SEOUL, Jan. 2 (Korea Bizwire) — South Korean small and medium-sized businesses are expected to take a hit this year from the double whammy of a minimum wage hike and reduced working hours. The highest minimum wage hike in 17 years takes effect this month with a jump to 7,530 won per hour. However, not [...]
SEOUL, Jan. 2 (Korea Bizwire) – South Korea’s central bank chief said Tuesday that he will make a prudent decision on a further rate hike by taking into account all economic data. “The Bank of Korea raises the rate based on data, economic indices and other conditions,” BOK Gov. Lee Ju-yeol told reporters. “The board [...]
SEOUL, Jan. 2 (Korea Bizwire) – U.S. tech giant Apple Inc.’s South Korean arm said Tuesday it will start a discounted battery replacement program amid criticism that the company intentionally slowed down older smartphones. Apple said users of the iPhone 6 and its successors will be able to replace batteries for 34,000 won (US$31.80), down [...]
SEOUL, Jan. 2 (Korea Bizwire) – South Korea’s chief economic policymaker said Tuesday that the government will redouble efforts to successfully implement a series of measures aimed at smoothing out a rise in minimum wage that takes effect this year. In July last year, the country decided to increase its minimum wage by 16 percent [...]
SEOUL, Jan. 2 (Korea Bizwire) — A planned protest against the government’s cryptocurrency regulations failed to live up to the hype, with no one turning up at Gwanghwamun Plaza over the weekend. Despite an online post last week urging bitcoin investors to join a protest against the current administration’s anti-cryptocurrency stance, no sign of protest [...]
SEOUL, Jan. 2 (Korea Bizwire) — The government has announced plans to install fire alarm systems at all traditional markets in the country by 2022. The Ministry of SMEs and Startups said on Monday it will spend 18 billion won to introduce fire alarm systems to 32,000 shops this year, covering 15.5 percent of all [...]
SEOUL, Dec. 29 (Korea Bizwire) – Despite the government’s drive to boost declining birth rates, routine violations of women’s rights in the workplace continue to take place in South Korea. A series of reports showing employers interfering with female workers’ personal affairs – including pregnancy and marriage – has sent shockwaves across the country this [...]
SEOUL, Dec. 29 (Korea Bizwire) – The Environment Ministry said Friday it is enforcing emergency measures to reduce fine dust in the air for Seoul and surrounding regions on Saturday, as dust pollution has seriously worsened in the area. It is the first time the ministry has issued the “fine dust emergency reduction measures” since [...]
SEOUL, Dec. 29 (Korea Bizwire) – A private task force on Friday pressed the government to launch a probe into the shutdown of an inter-Korean joint factory park in North Korea. South Korea pulled the plug on the factory park in the North’s border city of Kaesong in February 2016 to punish the North for [...]
SEOUL, Dec. 29 (Korea Bizwire) – South Korea’s top-tier pro football league will begin its 2018 season on March 1, an official from the league office said Friday. The official said that four K League Classic clubs that will compete at the Asian Football Confederation (AFC) Champions League will start their domestic league campaign on [...]