SEOUL, July 10 (Korea Bizwire) — The number of foreigners coming to South Korea to get a job fell for the first time in four years in 2024 as labor demand fell in the country amid an economic slowdown, data showed Thursday. In 2024, 164,000 foreign nationals came to Korea with a working visa, down [...]
SEOUL, June 30 (Korea Bizwire) — A new survey shows that South Korean workers overwhelmingly view irregular employment as the most urgent labor issue the Lee Jae-myung administration must address. According to results released Sunday by online labor advocacy group Workplace Gapjil 119, nearly four in ten salaried workers (38.8%) cited the country’s widespread use [...]
SEOUL, June 30 (Korea Bizwire) — Electricians and elevator technicians topped the list of South Koreans who most successfully reentered the workforce through national technical certifications, according to data released Sunday by the Ministry of Employment and Labor and the Human Resources Development Service of Korea. The analysis examined 610,000 individuals who earned a national [...]
SEOUL, June 29 (Korea Bizwire) — Hyundai Motor and Kia have climbed to a record-high 11% market share in the U.S. auto market for the first five months of this year, bolstered by proactive inventory strategies and surging hybrid sales. But industry analysts warn that growing cost pressures and looming tariff hikes could cloud prospects [...]
SEOUL, June 27 (Korea Bizwire) — The average South Korean worker earned 3.97 million won ($2,870) in April this year, working 165.5 hours for the month, according to new data released by the Ministry of Employment and Labor on Thursday. While wages rose modestly, the outlook for core industries like manufacturing and construction continues to darken [...]
SEOUL, June 25 (Korea Bizwire) — Nearly eight out of ten of South Korea’s largest companies are clustered in the greater Seoul area, highlighting a deepening imbalance in the nation’s corporate geography — one that’s reigniting debate over regional development and decentralization. According to a recent report by market research firm CEO Score, 385 out [...]
SEOUL, June 19 (Korea Bizwire) — Over half of South Korean companies view economic cooperation with Japan as beneficial and believe it should continue, a survey showed Thursday, as the two nations mark the 60th anniversary of the normalization of diplomatic ties this year. In the poll conducted by the Federation of Korean Industries (FKI) [...]
SEOUL, June 17 (Korea Bizwire) — With South Korea set to require all KOSPI-listed firms to submit corporate governance reports starting in 2026, POSCO Holdings has emerged as the top performer in governance compliance over the past five years, according to a comprehensive industry analysis released Tuesday. The study by Leaders Index, which reviewed 2024 corporate [...]
SEOUL, June 16 (Korea Bizwire) — A growing number of South Korean workers believe the legal minimum wage should be extended to cover gig workers, freelancers, and those in special employment arrangements, reflecting mounting concern over the widening protections gap in the evolving labor market. According to a survey released Sunday by the labor rights group [...]
SEOUL, June 14 (Korea Bizwire) — Once a symbol of status and a booming lifestyle trend during the pandemic, golf in South Korea is now facing a quieter season. The latest figures show that the country’s imports of golf equipment plunged over 23 percent last year, falling to approximately 756.6 billion won (US$557.7 million) — a [...]