SEOUL, Dec. 6 (Korea Bizwire) — Unionized subway workers called off their planned strike Friday after a last-minute deal was reached in wage negotiations with the management. Seoul Metro, the operator of subway Lines 1 to 8 in the capital area, reached an agreement with each of its three labor unions in the early hours [...]
SEOUL, Dec. 6 (Korea Bizwire) — Non-regular school workers launched a general strike Friday after wage negotiations with the education authorities fell through. Around 60,000 workers mostly involved in providing meals and child care were expected to take part in the nationwide strike, according to their unions, prompting some schools to replace Friday’s lunch meal [...]
SEOUL, Dec. 5 (Korea Bizwire) — Unionized workers at Hyundai Motor Co. will stage a partial strike this week in solidarity with an umbrella labor union’s walkout against President Yoon Suk Yeol’s short-lived martial law declaration, according to the company’s union Thursday. Hyundai’s 43,000-strong union will hold a four-hour strike each on Thursday and Friday [...]
SEOUL, Dec. 5 (Korea Bizwire) — Some train and subway lines experienced delays and cancellations Thursday after unionized workers of the national railway operator launched an indefinite general strike. Subway Lines 1, 3 and 4 in the capital area, as well as high-speed KTX trains and regular trains, were being delayed or canceled as workers [...]
SEOUL, Dec. 4 (Korea Bizwire) — South Korea’s largest umbrella labor group, the Korean Confederation of Trade Unions (KCTU), vowed Wednesday to go on an indefinite strike until President Yoon Suk Yeol steps down to take responsibility for his declaration of martial law. “We will stand together with the people and lead the fight for [...]
SEOUL, Dec. 3 (Korea Bizwire) – As South Korea confronts an aging population, discussions around extending the retirement age are gaining momentum in political and corporate circles. While companies remain wary of increased wage burdens, they are exploring flexible approaches to address the issue. The ruling People Power Party has highlighted the urgency of reform. [...]
SEOUL, Dec. 3 (Korea Bizwire) — A senior presidential official said Tuesday that a now-disbanded consultative body on a prolonged walkout by trainee doctors could be reopened, but urged relevant parties to make more efforts to resolve the medical impasse. Jang Sang-yoon, senior presidential secretary for social policy, made the remark during a radio interview [...]
SEOUL, Dec. 3 (Korea Bizwire) – South Korea is witnessing a sharp rise in young people opting out of work or job-seeking, raising fears of a growing NEET (Not in Education, Employment, or Training) population, according to a recent report by the Bank of Korea. The study, released on Monday, reveals that the number of [...]
SEOUL, Dec. 3 (Korea Bizwire) – South Korea’s economic backbone—households headed by those in their 40s—saw a sharp drop in business income during the third quarter, reflecting prolonged domestic demand stagnation and heightened challenges for self-employed workers. According to Statistics Korea on Friday, the average business income for 40-something households fell to ₩1.07 million, down 13.1% [...]
SEOUL, Nov. 29 (Korea Bizwire) – Samsung Electronics is expected to announce a significant reduction in its executive ranks during its upcoming annual leadership reshuffle scheduled for November 29. Among the most notable changes, around 100 executives from the semiconductor division (DS) are set to retire—a move that marks an unprecedented level of departures in [...]