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 [...]
SEOUL, Apr. 4 (Korea Bizwire) — Seven in 10 artists in South Korea earn less than 1 million won (US$880) a month, well below the average for all trades, a government report said Thursday. According to the report by the Ministry of Culture, Sports and Tourism, the average annual income of domestic artist households was [...]
SEOUL, Feb. 19 (Korea Bizwire) — Growth in income for the generation of workers who came into the job market after the 1997 Asian financial crisis is slower than in the past, which will hurt overall earnings during their lifetimes, a research report said Tuesday. The study by Shim Hye-jung, head of the income and [...]
SEOUL, Dec. 4 (Korea Bizwire) — Despite soaring real estate prices across South Korea, income levels have remained stagnant, making the purchase of a home even more of an unachievable “dream.” Real estate assets account for 68.2 percent of all assets on average for Koreans. This means that volatility in the real estate market can [...]
SEOUL, Oct. 17 (Korea Bizwire) — The South Korean working poor are struggling from a vicious cycle of increasing debt, where interest and repayment fees reach as high as 12.56 million won each year, while disposable income is no more than 11 million won, on average. The Korea Institute for Health and Social Affairs (KIHSA) [...]
SEOUL, Oct. 16 (Korea Bizwire) — Taxi drivers saw a more than 37 percent rise in their income after Kakao Taxi, a mobile taxi-hailing service, was introduced three and a half years ago. Kakao Mobility announced on Monday that taxi drivers, who used to earn 110,894 won per day back in early 2016, now earn [...]
SEOUL, Sept. 25 (Korea Bizwire) – A new study has revealed that 7 out of 10 academic researchers on temporary contracts have monthly salaries of less than 2.5 million won. Moreover, nearly half of all temporary researchers take home less than 1.67 million won per month in pay. A research paper revealing such results, authored [...]
SEOUL, Aug. 30 (Korea Bizwire) — A new study has revealed that the average monthly income this year for software engineers was 6.29 million won, a rise of 4.6 percent from last year. This is according to the Korea Software Industry Association (KOSA), which released the results of a study regarding salaries of software engineers [...]
SEOUL, Aug. 20 (Korea Bizwire) — The income gap between wage earners in the top 10 percent and the bottom 10 percent was more than fourfold in South Korea last year. The income gap of South Korean workers was the highest of all Organisation for Economic Co-operation and Development (OECD) member states, with the gap [...]
SEOUL, Jun. 11 (Korea Bizwire) — South Korean workers have mixed feelings about the 52-hour maximum workweek due to effect next month as it could help improve productivity but reduce income, a survey by a local employment portal site showed Monday. In a recent survey of 905 workers at companies with more than 300 employees, [...]