SEOUL, Sept. 23 (Korea Bizwire) — South Korean companies on average spent 5.34 million won (US$4,584) each month to hire one worker in 2019, up 2.8 percent from the previous year, the labor ministry said Wednesday. The figure, which includes monthly salary, severance pay, insurance fees and miscellaneous costs, came from data collected from companies [...]
SEOUL, Sept. 16 (Korea Bizwire) — Large South Korean companies have actively engaged in mergers and acquisitions (M&A) this year despite the economic fallout of the coronavirus outbreak, industry data showed Wednesday. Big businesses in Asia’s fourth-largest economy spent a combined 11.45 trillion won (US$9.7 billion) in 52 M&A cases in the first eights months [...]
SEOUL, Aug. 31 (Korea Bizwire) — Local companies’ demand for new employees in the second and third quarters has fallen to the lowest level in 11 years, a government report showed Monday, as the spread of the coronavirus pandemic continues to weigh down the job market. According to the report issued by the Ministry of [...]
SEOUL, Aug. 27 (Korea Bizwire) — Major dividend-paying firms in South Korea have decided not to pay interim dividends this year due to tumbling earnings amid the coronavirus pandemic, industry sources said Thursday. S-Oil Corp., a major oil refiner known for paying high dividends, has decided to skip interim dividends this summer because of worsening [...]
SEOUL, Aug. 26 (Korea Bizwire) — Leading South Korean companies’ entertainment expenses sank nearly 13 percent in 2018 on a draconian anti-graft law that came into effect two years earlier, government data showed Wednesday. A total of 7,402 companies spent a combined 3.16 trillion won (US$2.66 billion) in 2018, down 12.7 percent from 2016, according [...]
SEOUL, Aug. 24 (Korea Bizwire) — South Korean companies are taking additional steps to stem the spread of the new coronavirus, as the government has applied a stricter social distancing level amid soaring infections. The country’s major companies said they are adopting stricter quarantine measures for their employees, offices and production facilities due to a [...]
SEOUL, Aug. 11 (Korea Bizwire) — The spread of COVID-19 is changing the hiring process of businesses in South Korea, with the both the amount of time taken and steps in the job interview process being minimized. According to a survey conducted by recruiting platform Saramin of 451 companies, 55.4 percent of the respondents (multiple [...]
SEOUL, Aug. 10 (Korea Bizwire) — Major corporations in South Korea are puzzling over how to deal with the growing number of disputes with former or incumbent employees who are claiming compensation for profits created by patents or inventions for which they made contributions. The Korea Intellectual Property Association (KINPA) and some of the nation’s [...]
SEOUL, March 23 (Korea Bizwire) — Hyundai Motor Co. and affiliate Kia Motors Corp. said Monday they have asked employees to resume work at their workplaces to better cope with the growing impact of the spreading coronavirus outbreak on their businesses. The carmakers’ employees have been ordered to work from home to prevent the spread [...]
SEOUL, March 17 (Korea Bizwire) — The spread of the new coronavirus has made things difficult for companies, leading to a growing number of employees suffering from labor code violations such as forced annual leave, unpaid leave, layoffs and pay cuts. According to an analysis of 911 reported cases, which civic group Workplace Gapjil 119 [...]