SEOUL, Nov. 8 (Korea Bizwire) – According to a new study released on November 7 by the Korea CXO Research Institute, employees at Korea’s top 100 companies face steep odds in reaching executive positions, with chances falling below 1%. The study, which examined promotion possibilities at the country’s 100 largest listed companies by revenue, revealed that [...]
SEOUL, Nov. 6 (Korea Bizwire) – The number of South Koreans opting to remain economically inactive without specific reasons has gone up by 245,000 this year amid tough job market conditions and economic uncertainties, the statistics agency said Wednesday. The total number of economically inactive individuals came to 16.21 million as of August, up 48,000 [...]
SEOUL, Nov. 6 (Korea Bizwire) – A new survey has revealed that seven out of 10 Korean companies believe extending the retirement age would create significant management challenges due to seniority-based wage systems, according to findings released on November 5 by the Korea Enterprises Federation (KEF). The survey, conducted by Research & Research on behalf of [...]
SEOUL, Nov. 4 (Korea Bizwire) – Vietnamese workers in South Korea earn the highest wages among their counterparts working abroad, according to a new government report from Vietnam’s Ministry of Foreign Affairs. The “Vietnam Migration Overview 2023″ report, cited by VN Express on November 4, analyzed income levels of Vietnamese overseas workers across different countries between [...]
SEOUL, Nov. 3 (Korea Bizwire) – A new report has revealed that only 4 out of 10 newly employed wage workers in South Korea remain at their initial workplace after one year, highlighting ongoing concerns about job stability among new entrants to the workforce. According to an analysis published November 3 by the Korea Employment Information [...]
SEOUL, Oct. 31 (Korea Bizwire) – After nine rounds of negotiations spanning 100 days, delivery apps and restaurant owners remain deadlocked over commission rates, with positions still far apart at 9.8% versus 5%. The ninth meeting of the Delivery App Coexistence Council, held on October 30, stretched to nearly seven hours including breaks but failed to [...]
SEOUL, Oct. 30 (Korea Bizwire) – A new survey has revealed that 60.5% of South Korean college students and recent graduates are “passive job seekers,” highlighting growing concerns about the country’s employment market for young people. The Federation of Korean Industries (FKI) surveyed 2,938 students and graduates from four-year universities nationwide for their “2024 University Student [...]
SEOUL, Oct. 28 (Korea Bizwire) – Part-time employment among young workers has doubled over the past decade, leading to an unprecedented rise in non-regular employment among South Korea’s youngest workforce. According to data released by Statistics Korea on October 27, as of August, there were approximately 1.46 million workers in their 20s heolding non-regular positions, representing [...]
SEOUL, Oct. 28 (Korea Bizwire) – South Korea’s income inequality among self-employed business owners has reached striking levels, with the top 10% of business income earners making seven times the average income, according to new tax data. National Assembly data released on October 27 reveals that the top 10% of business income earners, approximately 847,354 individuals, [...]
SEJONG, Oct. 24 (Korea Bizwire) – The health ministry said Thursday it has selected eight institutions to launch a program in which general hospitals will focus more on treating critical patients while referring those with mild symptoms to local hospitals. Through the program, the government aims to have critically ill cases take up 70 percent [...]