SEOUL, April 25 (Korea Bizwire) – A significant number of migrant workers in South Korea have experienced wage theft, with the average amount owed surpassing 6 million won according to a recent government study. The report, titled “Research Study on the Current Situation of Wage Arrears for Migrant Workers and Remedies,” was commissioned by the National [...]
SEOUL, April 25 (Korea Bizwire) – South Korea’s government has finalized its blueprint to establish global leadership in three pivotal areas it deems “game changers” for the future: artificial intelligence semiconductors, advanced biotechnology and quantum technology. The Presidential Advisory Council on Science & Technology, the nation’s top decision-making body for science and technology issues chaired by [...]
SEOUL, April 25 (Korea Bizwire) – The Constitutional Court ruled against the inheritance system Thursday, which indiscriminately mandates predetermined minimum portions of an inheritance be given to the family members of the dead, even those responsible for abusing the dead. The Civil Act mandates families’ rights to legally reserved minimum portions of an inheritance in [...]
SEOUL, April 25 (Korea Bizwire) — South Korea will launch an initiative to become one of three leading nations in the so-called game-changer industries that include artificial intelligence (AI) chip, advanced biology and quantum technologies by 2030, the science ministry said Thursday. The Presidential Advisory Council on Science & Technology held a meeting and decided [...]
SEOUL, Apr. 25 (Korea Bizwire) – Nine out of every 10 new jobs created in South Korea last year went to women, reflecting their growing entry into the workforce, government data shows. The trend has led to a surge in the number of stay-at-home fathers, which exceeded 200,000 for the first time in 2023. An analysis [...]
SEOUL, Apr. 25 (Korea Bizwire) – Maintaining a stable lifestyle after retirement in South Korea requires a nest egg of at least 1.1 billion won, according to a new analysis, with health care costs and support for adult children emerging as major expenses alongside basic living costs. The figure, which factors in 30 years of retired [...]
SEOUL, Apr. 25 (Korea Bizwire) – A national survey on reforming South Korea’s pension system found that a proposal to raise contributions in exchange for higher payouts was most popular among those in their 40s and 50s, while younger Koreans were more reluctant to increase their payments, highlighting a generational divide. The results from the citizen [...]
SEOUL, Apr. 25 (Korea Bizwire) — A presidential committee on medical reform was formally launched on Thursday with the aim of seeking a breakthrough over a prolonged walkout by doctors, as their labor action has disrupted public health services for more than two months. Prospects for the committee, however, are uncertain as representatives from senior [...]
SEOUL, Apr. 25 (Korea Bizwire) — Finance Minister Choi Sang-mok vowed Thursday to enhance South Korea’s crisis management capabilities regarding supply chains in close cooperation with the United States, Japan and other Indo-Pacific partners, the finance ministry said. Choi made the comment during an external economic ministers’ meeting in Seoul as he discussed the implementation [...]
SEOUL, Apr. 25 (Korea Bizwire) — South Korea’s economy grew at the fastest pace in over two years in the first quarter of the year on the back of a continued recovery in exports and a rise in construction investment, central bank data showed Thursday. The country’s real gross domestic product — a key measure [...]