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Shorter Workweek to be Enforced in More Industries Starting in July

Shorter Workweek to be Enforced in More Industries Starting in July

SEOUL, Jun. 30 (Korea Bizwire) — Additional industries, including bus, financial and broadcasting firms, will be required to implement the 52-hour workweek rule starting next month, the labor ministry said Sunday. In July 2018, the shorter workweek went into effect for companies with more than 300 employees, but 21 industries, including regular-route bus services, broadcasting, [...]

Bus and Other Industries Given 3-month Grace Period for 52-hour Workweek

Bus and Other Industries Given 3-month Grace Period for 52-hour Workweek

SEOUL, Jun. 20 (Korea Bizwire) — Companies in the bus and other industries, obliged by labor law to implement the 52-hour workweek rule next month, will be given a three-month grace period under a government decision to allow them more time to prepare for a steep reduction in working hours, the labor minister said Thursday. [...]

Banks Push Initiatives to Boost Efficiency Ahead of 52-Hour Workweek Implementation

Banks Push Initiatives to Boost Efficiency Ahead of 52-Hour Workweek Implementation

SEOUL, Jun. 19 (Korea Bizwire) — South Korea’s major commercial banks have begun cutting unnecessary work hours ahead of the full implementation of the government’s new 52-hour workweek policy in July. The banking sector introduced the 52-hour workweek system earlier this year, but since the actual legal enforcement date is from the first day of [...]

Unionized Bus Drivers Vote to Strike Nationwide over Wages

Unionized Bus Drivers Vote to Strike Nationwide over Wages

SEOUL, May 9 (Korea Bizwire) — Nationwide public transportation chaos is looming, as unionized bus drivers across the country have been voting overwhelmingly to strike to demand pay hikes and manpower increases in time for the implementation of a mandatory 52-hour workweek in the bus industry this summer. Some 35,000 drivers from 10 cities and [...]

Overtime Hours on Steady Decline at Companies Subject to 52-hour Workweek

Overtime Hours on Steady Decline at Companies Subject to 52-hour Workweek

SEOUL, Apr. 30 (Korea Bizwire) — The overtime hours average has been on a steady decline at South Korean companies affected by the mandatory 52-hour workweek, a government report said Tuesday. According to the report by the Ministry of Employment and Labor, the average overtime hours per person at manufacturing companies with more than 300 [...]

52-hour Workweek Policy Triggers Consumption Changes

52-hour Workweek Policy Triggers Consumption Changes

SEOUL, Apr. 23 (Korea Bizwire) — Since the implementation of the 52-hour workweek, netizens’ searches for restaurants have decreased, while the use of home-training and interior-related applications has surged, the survey showed. According to Daehong Communications Inc., an advertising agency affiliated with Lotte Group, an analysis of changes in consumer lifestyle based on its social [...]

52-hour Workweek Cuts into Workers’ Income and Overtime Hours: Report

52-hour Workweek Cuts into Workers’ Income and Overtime Hours: Report

SEOUL, Apr. 12 (Korea Bizwire) — South Korean workers affected by the mandatory 52-hour workweek have suffered an income reduction of about 44,000 won (US$39) per month, a government report said Friday. According to the report by the state-run Korea Labor Institute, the number of overtime hours worked by employees of companies subject to the [...]

Spending on Education, Hobbies Rise amid 52-hour Workweek Policy in 2018

Spending on Education, Hobbies Rise amid 52-hour Workweek Policy in 2018

SEOUL, Mar. 10 (Korea Bizwire) — South Korean workers’ spending on education and hobbies increased last year, due largely to the implementation of the government’s 52-hour workweek policy, government data showed Sunday Total household spending on private education came to 42.24 trillion won (US$37.15 billion) last year, up 3.22 percent from a year earlier, according [...]