SEOUL, Dec. 22 (Korea Bizwire) — The performance-based bonuses that Samsung Electronics Co. paid to its employees declined sharply in second-half of this year amid weaker than expected sales resulting from the economic slump, industry sources said Wednesday. Samsung unveiled what it calls target achievement incentives (TAI) based on its workers’ performance, which could be [...]
SEOUL, Dec. 21 (Korea Bizwire) — Street vendors in Myeongdong, a major shopping district in downtown Seoul, will be closed on Christmas Eve as part of crowd management measures, officials said Wednesday. A total of 362 vendors have agreed with the office of Junggu Ward covering the district to keep their businesses closed on the [...]
SEOUL, Dec. 21 (Korea Bizwire) – The number of breadwinners from each household working secondary jobs reached a new high this year, data showed Tuesday. The Federation of Korean Industries (FKI) reported that there were 368,000 heads of households with secondary jobs in the first three quarters of this year, accounting for 67.3 percent of [...]
SEOUL, Dec. 21 (Korea Bizwire) – Seoul’s Gangnam District said Tuesday it will expand its childbirth and postnatal care subsidies next year. The district has been giving out 300,000 won (US$233) for the firstborn and 1 million won for the second-born child. Starting in January of next year, all parents of newborn children will receive [...]
SEOUL, Dec. 20 (Korea Bizwire) — A hacker in his 30s was arrested on charges of infiltrating built-in home cameras at over 600 different apartment complexes and distributing recorded footage, police said Tuesday. In South Korea, it is common for internet-connected home security devices with cameras to be installed in apartment complexes. A wall-pad device, [...]
SEOUL, Dec. 20 (Korea Bizwire) — One in four students in South Korea have no future job preference, a survey showed Monday. The Ministry of Education and the Korea Research Institute for Vocational Education and Training conducted a nationwide survey of 22,702 elementary, middle and high school students, among which 19.3 percent of elementary school [...]
SEOUL, Dec. 19 (Korea Bizwire) — The sea level of South Korea rose nearly 10 centimeters over the past 33 years as a result of climate change, government data showed Monday. The country’s average coastal surface height grew 9.9 cm between 1989 and 2021, with the yearly average coming to 3.01 milometers, according to the [...]
SEOUL, Dec. 19 (Korea Bizwire) — An increasing number of South Korean universities are having difficulty recruiting new students due to a sharp decline in the school-age population resulting from a rapidly dropping birth rate. Against this backdrop, the number of universities that are attempting to downsize through mergers and integration is increasing. The Mungyeong [...]
SEOUL, Dec. 19 (Korea Bizwire) — Samsung Heavy Industries Co. announced that it has developed a blockchain-based cyber security solution to strengthen digital information security for autonomous ships for the first time in the shipbuilding industry. This technology sends the data created by the shipbuilder’s remote autonomous navigation system known as Samsung Autonomous Ship, or [...]
SEOUL, Dec. 17 (Korea Bizwire) — North Korea is likely to push forward with the development of its strategic and tactical nuclear weapons as well as reconnaissance satellites next year as Pyongyang seeks to strengthen its nuclear and missile capabilities, according to an expert Friday. “For the goal of the North Korean version of possessing [...]