SEOUL, April 1 (Korea Bizwire) — A recent South Korean Supreme Court ruling requiring companies to include conditional regular bonuses in base wages is placing significant financial pressure on employers, particularly smaller firms, according to a new survey released Sunday by the Korea Chamber of Commerce and Industry (KCCI). The emergency survey, conducted 100 days after [...]
SEOUL, April 1 (Korea Bizwire) — South Korea’s largest companies are increasingly moving beyond traditional job postings, adopting more proactive hiring strategies such as headhunting and direct sourcing to secure talent, according to new government data. The findings, released Sunday by the Ministry of Employment and Labor and the Korea Employment Information Service, come from the [...]
SEOUL, April 1 (Korea Bizwire) — More than half of South Korea’s social welfare workers say they have experienced workplace bullying in the past year, according to a new survey released ahead of Social Workers’ Day (March 30)—raising alarm about deteriorating conditions in one of the country’s most vital care sectors. The civic group Gabjil 119, [...]
SEOUL, April 1 (Korea Bizwire) — More than seven in ten South Koreans view the potential privacy risks associated with artificial intelligence (AI) as serious, according to a new national survey released Sunday by the Personal Information Protection Commission. The 2024 Personal Data Protection and Utilization Survey, conducted between September and December of last year, gathered [...]
WASHINGTON, March 31 1(Korea Bizwire) — The U.S. Trade Representative (USTR) on Monday released an annual report on foreign trade barriers that listed South Korea’s “offset” defense trade policy, emission-related regulations on imported cars and pricing policies for pharmaceuticals to name a few. The Office of the USTR issued the 2025 National Trade Estimate Report [...]
SEOUL, April 1(Korea Bizwire) — The number of executives at South Korea’s top 30 conglomerates declined last year amid an economic slowdown, while that of employees increased, a market tracker said Tuesday. According to an analysis of 2024 business results released by 235 affiliates of the 30 conglomerates, the number of executives at the 235 [...]
SEOUL, April 1(Korea Bizwire) — South Korean industries stayed vigilant Tuesday over a wave of U.S. tariffs set to take effect this week, fueling concerns over the potential impact on the country’s export-driven economy, industry observers noted. On Wednesday (U.S. time), Washington is set to unveil its reciprocal tariffs, taking into account each country’s tariff [...]
SEOUL, April 1(Korea Bizwire) — The country’s financial watchdog on Tuesday raised questions over the circumstances surrounding Homeplus Co.’s debt sale and filing for court rehabilitation and called on private equity firm MBK Partners Ltd. to be more responsible for the retailer’s fiasco. The Financial Supervisory Service (FSS) has been inspecting MBK Partners, which controls [...]
SEOUL, March 31 (Korea Bizwire) — South Korea will share its railroad construction technologies and experience with Vietnam as part of bilateral railway cooperation with the Southeast Asian nation, Seoul’s transport ministry said Monday. At a joint forum on the railway industry in Hanoi, the two countries signed a memorandum of understanding for cooperation ranging [...]
SEOUL, March 31 (Korea Bizwire) — The government of South Korea faces mounting pressure from the United States to commit to purchasing liquefied natural gas (LNG) from Alaska, a move that could carry significant economic and geopolitical consequences for Seoul. But despite a visit by Alaska Governor Mike Dunleavy last week and growing American expectations, South [...]