SEOUL, June 6 (Korea Bizwire) — Unionized workers at South Korea’s state-run banks are taking steps to come up with countermeasures following the Supreme Court’s latest ruling that the peak wage system designed to cut the salaries of senior workers simply on the basis of their age is invalid. The Korean Financial Industry Union plans [...]
SEOUL, June 2 (Korea Bizwire) — The tourism industry is getting a boost from rising demand for traveling as the work-from-home culture expands. Accommodation booking app Good Choice reported a 69 percent increase in the number of reservations of longer than two consecutive nights in the first quarter of this year, compared to the previous [...]
SEOUL, May 31 (Korea Bizwire) — School violence, which dropped significantly during the pandemic era, is beginning to rise. The Seoul Metropolitan Police Agency reported that the reported number of school violence cases decreased from 11,832 in 2019 to 5,555 in 2020, before it started to climb back up to 6,823 cases last year. The [...]
SEOUL, May 30 (Korea Bizwire) — South Korea’s leading food manufacturers are releasing a series of vegan food products to cater to rising demand among the MZ generation born between the 1980s and 2000s. Maeil Dairies Co., the nation’s leading dairy company, teamed up with a famous local bakery to release a vegan bread made [...]
SEOUL, May 26 (Korea Bizwire) — The Constitutional Court ruled Thursday that the lawyers’ code of conduct banning them from joining online legal counseling platforms, such as LawTalk, is unconstitutional, a decision expected to bring sweeping changes to how law is practiced in South Korea. The ruling is in favor of 60 lawyers and Law&Company, [...]
SEOUL, May 26 (Korea Bizwire) — The Supreme Court on Thursday ruled against the peak wage system introduced by a large number of local companies to gradually cut the salaries of senior workers several years before retirement. The top court said the peak wage system is an illegal discrimination against workers on the basis of [...]
SEOUL, May 26 (Korea Bizwire) – There were more than 1.5 million gig workers who worked fewer than 15 hours a week in South Korea last month, setting a new record, according to the data from the Statistics Korea. Including those on temporary leave, the number of workers with less than 15 work hours per week neared 2 [...]
SEOUL, May 25 (Korea Bizwire) — South Korea’s first-quarter fertility rate hit a fresh nadir and its population fell for 29 months running in March amid rising deaths, data showed Wednesday, pointing to the country’s gloomy demographic situation and chronically low birthrate. The country’s total fertility rate — the average number of children a woman [...]
SEOUL, May 24 (Korea Bizwire) — South Korea will intensify global cooperation to better regulate the crypto asset market amid growing worries over excessive volatility demonstrated in the recent collapse of TerraUSD and Luna cryptocurrencies, a senior government official said Tuesday. The crash of TerraUSD, known as a “stablecoin,” and its sister coin Luna caused [...]
SEOUL, May 24 (Korea Bizwire) — About half of the Korean households that have concerns, worries, and conflicts pointed to the health of family members as the biggest cause of conflict, a survey showed Monday. According to a survey conducted jointly by the Korea Institute for Health and Social Affairs and Seoul National University of [...]