SEOUL, Jul. 22 (Korea Bizwire) — On July 20, figures released from a report by Statistics Korea revealed that the number of unemployed youth between the ages of 15 and 29 was 1.47 million as of May of this year, with the tally in some cases resulting from a failure to find work after graduation [...]
SEOUL, Jul. 21 (Korea Bizwire) — An increasing number of South Korean investors are showing interest in government bonds from countries such as Brazil, Mexico and Russia, with the value of Brazilian government bonds sold in South Korea during the first half of this year estimated to be around three trillion won, according to recent [...]
SEOUL, July 21 (Korea Bizwire) – A decision by the government to raise the minimum wage next year is expected to cut profits at convenience and discount store chains, but it could help bolster consumption, according to foreign investment banks on Friday. The government has decided to hike minimum wage 16 percent to 7,530 won [...]
SEOUL, July 20 (Korea Bizwire) – South Korea will set up a new ministry in charge of small and medium-sized businesses (SMEs) that will be dedicated to supporting smaller companies and creating more jobs, the government said Thursday. After long-drawn-out negotiations, the National Assembly passed the bill which included elevating the Small and Medium Business [...]
SEOUL, Jul. 20 (Korea Bizwire) — A new survey shows nearly 8 out of 10 employers are considering downsizing staff after the country’s new minimum wage of 7,530 – set to kick in next year – was announced last weekend. Findings from the survey on the new minimum wage released by recruitment website Alba Heaven [...]
SEOUL, Jul. 18 (Korea Bizwire) — South Korea’s minimum wage for 2018 has risen to 7,530 won ($6.70), after a government council voted nine to six in favor of the labor side of the negotiation team, pushing the country’s minimum wage above the likes of Israel and Spain. Compared to this year’s 6,470 won, next [...]
SEOUL, July 13 (Korea Bizwire) – South Korea’s main bourse closed at an all-time record high Thursday, with local analysts forecasting the market to maintain its current growth momentum moving forward on the strength of technology shares. The assessment comes as the country’s benchmark Korea Composite Stock Price Index (KOSPI) soared 17.72 points, or 0.74 [...]
SEOUL, Jul. 13 (Korea Bizwire) — More than half of the successful international startups would have failed in South Korea due to the country’s onerous regulations that many industry experts have said hinder new business opportunities, a new report claims. During ‘Startup Korea!’, a policy conference held by the Asan Nanum Foundation and Google’s Campus [...]
SEOUL, Jul. 12 (Korea Bizwire) — The Korea Development Institute (KDI) released yesterday a report titled “Government Policy for the Stable Growth of the Sharing Economy”. The white paper presents an in-depth look at the sharing economy, and makes the proposal that current policies need to be modified to accommodate a changing service industry. The seeds [...]
SEOUL, Jul. 12 (Korea Bizwire) — Over half of South Koreans believe the country’s current taxation system is unfair, a new report has found. According to data released by Jeon Byung-mok, the director of the Korea Institute of Public Finance (KIPF) during a meeting held at the headquarters of the Korea Federation of Banks on Tuesday, [...]