SEOUL, Apr. 29 (Korea Bizwire) – A staggering 81 percent of South Koreans risk facing an income drought after retirement, according to a recent survey, essentially equating retirement with poverty for a large segment of the population. The survey by the Korea Insurance Research Institute (KIRI) revealed that over 80 percent of non-retirees are ill-prepared for [...]
SEOUL, Apr. 26 (Korea Bizwire) – Housing expenses represent the biggest monthly financial burden for four out of 10 people in their 20s and 30s in South Korea, according to a recent survey, highlighting the challenges of expensive housing costs for young adults in the country. The poll of 1,547 people in their 20s and 30s, [...]
SEOUL, Apr. 26 (Korea Bizwire) — Professors from around 20 major medical schools nationwide will decide Friday whether to take a weekly day off while struggling to fill the void of trainee doctors who have walked off their jobs for more than two months, officials said. The emergency committee for national medical professors will hold [...]
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, 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 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 [...]
SOKCHO, April 24 (Korea Bizwire) – Residents along South Korea’s eastern coastline are growing increasingly anxious after the first shark of the year was caught, raising fears over public safety as sightings of the predators surge in the waters of the East Sea. According to the Sokcho Coast Guard, a shortfin mako shark measuring 295 cm [...]
SEOUL, April 24 (Korea Bizwire) – A former researcher at KT&G Corp., the leading tobacco company in South Korea, filed a damages suit Wednesday against his former employer, claiming that he invented the world’s first electronic cigarette while working for the firm, but was not properly rewarded. The plaintiff, Kwak Dae-geun, demanded 2.8 trillion won [...]
SEOUL, April 24 (Korea Bizwire) – More medical professors affiliated with major hospitals in South Korea are considering taking weekly breaks amid the prolonged walkout by trainee doctors, officials said Wednesday, sparking fears of exacerbating the country’s health care crisis and financial difficulties of hospitals. Earlier in the day, an emergency committee of medical professors [...]