SEOUL, Nov. 14 (Korea Bizwire) – A recent study has shown that permanent employees with higher wages have a higher chance of marriage in Korean society, indicating that the country’s unstable job market with a high percentage of temporary positions (22.4 percent, 2013) is contributing to a low marriage rate and declining birthrate. According to [...]
SEOUL, Nov. 14 (Korea Bizwire) – South Korea’s highest income tax rate for high-income earners is already higher than the average of OECD states, a report said Monday, opposing a move by opposition lawmakers to further raise the rate for the highest income earners. The report from the Korea Economic Research Institute (KERI) noted the [...]
SEOUL, Nov. 9 (Korea Bizwire) – The average tenure of CEOs at South Korea’s top 30 conglomerates and their affiliates is 2.5 years, with 18 percent of them leaving in less than a year, a survey by a corporate tracker said Wednesday. According to CEO Score, executives stayed on for more than three years at [...]
SEOUL, Nov. 7 (Korea Bizwire) – A recent study from Statistics Korea revealed that the number of temporary employees aged 60 and above has more than doubled over the past decade, calling for government measures to provide aged workers with stable jobs to prevent elderly poverty. According to the study, there were 1,468,000 employees aged [...]
SEOUL, Oct. 31 (Korea Bizwire) – Government expenditures on welfare are increasing year after year, but a recent report showed that Korea still falls far behind its OECD counterparts. According to the OECD’s October update to its Social Expenditure Database, Korea’s social spending was marked at 10.4 percent of its GDP, ranking 34th among 35 [...]
SEJONG, Oct. 31 (Korea Bizwire) – The number of college graduates who failed to pay back their student loans jumped nearly eight times in three years, data showed Monday, in the latest sign of financial trouble for young South Korean workers. Under the student loan program that began 2010, college graduates are required to pay [...]
SEOUL, Oct. 28 (Korea Bizwire) – The number of foreign students studying in South Korea topped the 120,000-mark for the first time last month, the justice ministry said Friday. It was tallied at 122,082 as of the end of September, up 3.8 percent from the previous month and up 19.6 percent from a year earlier. [...]
SEOUL, Oct. 26 (Korea Bizwire) – A recent study by KRIVET (the Korea Research Institute for Vocational Education & Training) revealed that workplace bullying is leading to losses of over 4.78 trillion won ($4.2 billion) each year in 15 industry sectors, with the institute calling for legal intervention against employee harassment. KRIVET analyzed 15 industry [...]
DAEJEON, Oct. 26 (Korea Bizwire) – Korea has seen an increasing number of patents targeting the rapidly growing market for biometrics, driven by an increasing supply of smartphones and wearable devices, and the expansion of IoT-based services. According to the Korea Intellectual Property Office, the annual number of patent applications related to biometric technology more [...]
LONDON, Oct. 24 (Korea Bizwire) — By 2020, companies will have shifted the majority of their R&D spending away from product-based offerings to software and service offerings, according to the 2016 Global Innovation 1000 Study from Strategy&, PwC’s strategy consulting business. The need to stay competitive is the top reason why companies cited a shift [...]