SEOUL, Nov. 12 (Korea Bizwire) — It’s getting more difficult to become an executive at large companies in South Korea. The number of employees at the nation’s top 100 companies in terms of annual revenues totaled 847,442 this year, down 6,528 from a year ago, according to headhunting firm Unico Search Inc. The number of [...]
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. 21 (Korea Bizwire) — About eight months into the coronavirus pandemic, approximately 4 in 10 salaried employees in South Korea suffered a decline in their incomes and an increase in depression, while over 15 percent of them either lost or quit their jobs, a poll showed Monday. According to the survey of 1,000 [...]
SEJONG/SEOUL, July 14 (Korea Bizwire) — A national commission on Tuesday set next year’s minimum hourly wage at 8,720 won (US$7.25), raising the legal threshold by the smallest-ever annual increase, as the country faces economic headwinds from the new coronavirus. Up to 4 million workers, whose current hourly wage is lower than the amount, will [...]
SEOUL, May 28 (Korea Bizwire) — The COVID-19 pandemic is taking its toll on employment in South Korea, with the biggest drop in the population of corporate employees reported in April, a government report showed Thursday. The number of people employed by all South Korean businesses that have at least one worker came to 18.22 [...]
SEOUL, April 2 (Korea Bizwire) — Experts say that the reason why the gap between salary levels increases as employees get older is not because of labor productivity but because of an individual’s level of education at the time of initial employment. Wage inequality typically grows over time among male workers of similar ages, mainly [...]
SEOUL, Feb. 26 (Korea Bizwire) — Despite the ongoing coronavirus spread, different sanitation policies among companies are frustrating employees. Some companies offer masks and hand sanitizer at the office, while others only go so far to advising employees to stay ‘sanitized,’ without offering any support. With protective masks and hand sanitizer in short supply, a [...]
SEOUL, Nov. 14 (Korea Bizwire) — Employees sometimes quit their jobs on their own when their employers tell them to look elsewhere for reasons such as deteriorating business conditions. In this case, a South Korean court ruled that it should be seen as a “discharge,” not a “self-imposed resignation.” On Wednesday, the Supreme Court overturned [...]
SEOUL, Oct. 24 (Korea Bizwire) — South Korea’s top court has ruled that native English-speaking instructors can also receive severance pay or annual leave allowances as they are employees under the Labor Standards Act. In a lawsuit filed by eight native English teachers against their former private language institute in southern Seoul, the Supreme Court [...]
SEOUL, Sept. 30 (Korea Bizwire) — Male employees will be allowed to take up to 10 days off after their child’s birth starting next month, the labor ministry said Monday, as South Korea seeks to help more people balance their work and family life. Currently, men can take three days of paid leave when their [...]