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Growing Number of Single-person Households Prompts Changes in Company Welfare Policies

Growing Number of Single-person Households Prompts Changes in Company Welfare Policies

SEOUL, Nov. 28 (Korea Bizwire) — With the increasing number of single-person households choosing not to get married, South Korean companies are diversifying in terms of their welfare policies. Lotte Department Store in September began offering congratulatory or consolation subsidies to employees who are single. Any employee who is single and over 40 years of [...]

Truckers’ Strike Cripples Shipments in Cement, Steel Industries

Truckers’ Strike Cripples Shipments in Cement, Steel Industries

SEOUL, Nov. 25 (Korea Bizwire) – The nationwide strike by truck drivers caused supply disruptions across the cement and steel industries on Friday, with other sectors like auto and petrochemicals feared to bear the brunt if the protest prolongs. Cement factories were unable to ship most of the daily supply of 200,000 tons the previous [...]

Top Court Overturns Lower Courts’ Denial of Legal Sex Change to Parent with Underage Child

Top Court Overturns Lower Courts’ Denial of Legal Sex Change to Parent with Underage Child

SEOUL, Nov. 24 (Korea Bizwire) — The Supreme Court ruled Thursday it is illegal to deny transgender people the right to change their legal sex status solely on the grounds that they have underage children. The ruling was made in a request filed in 2019 by a naturally born man who underwent a sex reassignment [...]

Driving Innovation, Samsung Electronics Fosters Promising Tech Startups

Driving Innovation, Samsung Electronics Fosters Promising Tech Startups

SEOUL, Nov. 24 (Korea Bizwire) — When Joung Ji-won, the founder and CEO of Algocare Lab, decided to apply for a venture incubator program of Samsung Electronics Co. last year, her startup was in its third year of operation and already recognized for its innovative ideas for personalized nutrition management. Still, she found it challenging [...]

17 pct of Women in S. Korea Experience Career Break Following Marriage: Data

17 pct of Women in S. Korea Experience Career Break Following Marriage: Data

SEOUL, Nov. 22 (Korea Bizwire) — Around 17 percent of South Korean women experienced a career break following their marriage this year, with child-rearing among the top reasons, data showed Tuesday. The number of women aged 15-54 who had stopped working after marriage had come to 1.39 million as of April, slightly down from 1.44 [...]

Interest Burden of Mortgage Borrowers Increasing Rapidly

Interest Burden of Mortgage Borrowers Increasing Rapidly

SEOUL, Nov. 16 (Korea Bizwire) — Seven in 10 Koreans with mortgage loans saw their interest burden increase compared to last year amid a steep increase in interest rates, a poll showed Tuesday. According to a survey conducted by home matching platform Zigbang Co. of 948 users of its application, 41.4 percent of the respondents [...]

Young S. Koreans Suffer Most from Unemployment and Rising Consumer Prices

Young S. Koreans Suffer Most from Unemployment and Rising Consumer Prices

SEOUL, Nov. 15 (Korea Bizwire) — The Economic Misery Index showed that the employment crisis and rapidly increasing consumer prices are being felt most closely by young South Koreans. The Federation of Korean Industries (FKI) estimated the Economic Misery Index by combining the unemployment rate from all age groups with the increase rate of consumer [...]

S. Korea Seeks to Create Massive Clean Hydrogen Ecosystem

S. Korea Seeks to Create Massive Clean Hydrogen Ecosystem

SEOUL, Nov. 9 (Korea Bizwire) — South Korea vowed Wednesday to significantly boost the use and production of clean hydrogen by extending support for securing advanced technologies and building infrastructures with a goal to achieve zero-emission goals and become the world’s No. 1 hydrogen industry powerhouse. The government announced the comprehensive roadmap during a hydrogen [...]

Gov’t to Rearrange Cultural Heritage Preservation Zones for Deregulation

Gov’t to Rearrange Cultural Heritage Preservation Zones for Deregulation

SEOUL, Nov. 9 (Korea Bizwire) — The government said Wednesday it will review the country’s about 1,600 cultural heritage preservation zones possibly to reduce their ranges as part of deregulatory measures. The Cultural Heritage Administration (CHA) announced the plan during a government meeting on regulatory reforms, presided over by Prime Minister Han Duck-soo. Under current [...]

YouTube Footage of Itaewon Crowd Crush Spreads National Trauma

YouTube Footage of Itaewon Crowd Crush Spreads National Trauma

SEOUL, Nov. 8 (Korea Bizwire) — Photos and videos of the Itaewon crowd crush on YouTube and other social media platforms are exacerbating the trauma among victims and their families as well as the public. A 29-year-old office worker surnamed Lee who lost a friend in the stampede unintentionally ran into a YouTube video of [...]