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Archive by category Public Insight

Lack of Job Stability, Scarce Retirement Savings Undermine Economic Security for South Korea’s Disabled Workers

SEOUL, May 27 (Korea Bizwire) – Two out of three employed individuals with disabilities in South Korea are working in precarious, irregular jobs, according to a new government report highlighting the economic vulnerabilities faced by this population. The findings also reveal alarmingly low levels of retirement preparation, even as the nation’s disabled community rapidly ages. Based [...]

South Korean Business Groups Call for Inheritance Tax Overhaul to Boost Economic Vitality

SEOUL, May 27 (Korea Bizwire) – Business leaders in South Korea are urging an overhaul of the nation’s inheritance tax system, arguing that the current rates are stifling economic dynamism and hampering investment and job creation. In a report published on May 26 titled “Problems with the Inheritance Tax System and Proposed Improvements,” the Korean Chamber [...]

Gov’t Vows to Continue Efforts to Mend Discord with Medical Community

SEJONG, May 27 (Korea Bizwire) — South Korea’s health ministry said Monday it plans to continue efforts to resolve the ongoing discord with doctors following the finalization of the university admission plan, which includes the controversial medical school quota hike, last week. The remark came after the Korean Council for University Education, an association of [...]

Over Half of Workers Open to Returning to Former Employers, Survey Finds

SEOUL, May 27 (Korea Bizwire) – More than 60% of employees in South Korea view being rehired at a previous workplace positively, according to a recent survey conducted by Incruit, a human resources technology company. In a poll of 1,292 South Korean workers aimed at gauging attitudes toward being rehired after quitting, 16.8% said they felt [...]

South Korea Faces Brain Drain as Thousands of Experienced Military Officers Quit

SEOUL, May 26 (Korea Bizwire) – South Korea saw an unprecedented number of senior military officers with more than five years of experience leave the armed forces last year, raising concerns about a potential erosion of combat readiness, according to government data. A total of 9,481 commissioned and non-commissioned officers resigned in 2023, a 24.1% increase [...]

Nations Unleash Massive Efforts to Secure Semiconductor Supremacy

SEOUL, May 25 (Korea Bizwire) – The United States, China and countries around the world are waging an intense battle to gain supremacy in the semiconductor industry, crucial for cutting-edge technologies. On May 23, in a meeting presided over by President Yoon Suk Yeol, South Korea’s government unveiled a comprehensive 26 trillion won support package for [...]

High-Stakes Legal Battle Over NewJeans Manager Pits Fans Against K-Pop Giant Hybe

SEOUL, May 25 (Korea Bizwire) – As a court decision looms that could determine the fate of Min Hee-jin, the founder of the ADOR record label and the former manager of NewJeans, a fierce legal battle is unfolding between Min and her critics at Hybe, the K-pop juggernaut. According to K-pop industry insiders, 10,000 members of [...]

Samsung Workers Stage Rally as Pay Talks Resume

SEOUL, May 24 (Korea Bizwire) –As wage negotiations between Samsung Electronics and its labor unions restarted, the company’s largest union, the National Samsung Electronics Union (NSEU), held a rally disguised as a cultural event on May 24. The gathering drew an estimated 2,000 participants, according to the union, outside Samsung’s headquarters in Seoul’s Seocho District. [...]

Hybe Official Questioned Over Suspected Breach of Duty Involving Creator of NewJeans

SEOUL, May 24 (Korea Bizwire) — Police have questioned an official from Hybe, the biggest K-pop powerhouse and home to BTS, in connection with a breach of duty accusation the firm raised against the head of subsidiary ADOR. The Yongsan Police Station in Seoul questioned an unidentified Hybe official as the complainant of the case [...]

Gov’t to Reduce Tariffs on Fresh Food Imports to Curb Inflation

SEOUL, May 24 (Korea Bizwire) — The finance ministry on Friday warned of uncertainties regarding inflation and vowed preemptive steps by extending tariff quota reduction on imports of agricultural products and boosting government reserves. “Prices of farm produce and petroleum products have fallen recently, but uncertainties remain high over the geopolitical situation in the Middle [...]