SEOUL, May 17 (Korea Bizwire) — One in three companies in South Korea may trim workers in the future if the economy does not show signs of a significant recovery from the new coronavirus pandemic, a poll showed Sunday. In the poll conducted by the Korea Economic Research Institute, about 30 percent of the surveyed [...]
SEJONG, May 13 (Korea Bizwire) — South Korea reported the sharpest drop in its April employment since 1999 as the coronavirus pandemic hammered job markets, data showed Wednesday. The number of employed people in South Korea stood at 26.56 million in April, 476,000 people fewer than a year ago, marking the biggest on-year decline since [...]
SEOUL, March 23 (Korea Bizwire) — The employment effect of unicorn companies and prospective unicorn companies with a value of more than 1 trillion won (US$781 million), which the government has committed to supporting, has been slowing down. While the number of employees recruited is increasing, some point out that the number of employees who [...]
SEOUL, Dec. 23 (Korea Bizwire) — The number of South Koreans overqualified for their current jobs has reached a record high of over 30 percent this year, a central bank report showed Monday, suggesting overeducation may be adding to the country’s overall costs and that the nation may also be running out of quality jobs. [...]
SEJONG, Dec. 22 (Korea Bizwire) — The employment rate among foreigners living in South Korea dropped in May this year, compared with a year ago, despite an increase in their overall population, data showed Sunday. Of 1.32 million foreign residents aged 15 and older, about 914,000 were working as of May this year, which means [...]
SEOUL, Sept. 18 (Korea Bizwire) — South Korea on Wednesday floated the idea of dictating that companies continue to employ workers beyond the current retirement age of 60, a move that could have far-reaching implications on Asia’s fourth-largest economy. The move came amid growing need for older people to stay in the labor market longer [...]
SEJONG, Jun. 16 (Korea Bizwire) — The number of employed men in their 40s shrank at the fastest pace in 27 years last month, attributable to the declining population and lackluster local manufacturing industry, government data showed Sunday. The number of employed males aged between 40 and 49 stood at 3.83 million in May, shedding [...]
SEOUL, Jan. 15 (Korea Bizwire) – A recent study has revealed that 8 out of 10 South Korean companies expect that this year’s rise in the minimum wage will negatively affect hiring plans. Saramin, a South Korean job search portal, asked 906 firms in South Korea, 77 percent of which said they felt uncomfortable hiring [...]
SEOUL, Jan. 13 (Korea Bizwire) — South Koreans in their forties and fifties were hit hardest by the tougher job market last year stemming from protracted corporate restructuring and an economic downturn, government data showed Sunday. The country’s employment rate — the portion of hired people to the working-age population — reached 60.7 percent in [...]
SEOUL, Nov. 20 (Korea Bizwire) — A recent study suggests that 4 out of 10 life planners in South Korea may lose their jobs once employment insurance becomes mandatory for employees with jobs categorized as “special type of labor” in South Korea. Lee Ji-man, a professor at Yonsei University, will be presenting the details of [...]