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S. Korea Expects More New Joint Ventures for Low-salary Jobs: Cheong Wa Dae

S. Korea Expects More New Joint Ventures for Low-salary Jobs: Cheong Wa Dae

SEOUL, Feb. 8 (Korea Bizwire) — South Korea is expected to see more joint ventures between local governments and companies aimed at creating low-waged jobs that may also help prevent local companies from moving their jobs overseas, the presidential office Cheong Wa Dae said Friday.  “We have hopes that at least one or two more [...]

Lotte to Invest 50 Tln Won, Create 70,000 New Jobs in Next 5 Years

Lotte to Invest 50 Tln Won, Create 70,000 New Jobs in Next 5 Years

SEOUL, Oct. 23 (Korea Bizwire) — Lotte Group said Tuesday it will invest 50 trillion won (US$44 billion) and create 70,000 new jobs in the next five years in its first major business decision after its chief returned to the helm of South Korea’s fifth-largest conglomerate. Lotte Corp., the business group’s holding firm, said that [...]

S. Korea’s Jobless Rate Rises in May, Job Creation Lowest in Over 8 yrs

S. Korea’s Jobless Rate Rises in May, Job Creation Lowest in Over 8 yrs

SEJONG, Jun. 15 (Korea Bizwire) — South Korea’s jobless rate rose slightly in May due to a fall in employment in the retail, manufacturing and educational service sectors, while job creation remained sluggish, government data showed Friday. The unemployment rate stood at 4 percent last month, up 0.4 percentage point from a year earlier, marking [...]

Moon Slashes Funds for Presidential Activities to Support Job Creation

Moon Slashes Funds for Presidential Activities to Support Job Creation

SEOUL, May 26 (Korea Bizwire) — President Moon Jae-in on Thursday directed his secretariat to slash funds for special presidential activities to support job creation and marginalized citizens, his office said. Lee Joung-do, Moon’s secretary for general affairs, said that the president would also use his own money for family meals, commodities and private events, [...]

New Bulletin Board on Jobs Highlights President’s Focus on Job Creation

New Bulletin Board on Jobs Highlights President’s Focus on Job Creation

SEOUL, May 25 (Korea Bizwire) – The presidential office Cheong Wa Dae installed a new electric bulletin board Wednesday, offering a quick summary of current conditions in the country’s employment market, while also highlighting the emphasis the new president and his government place on creating jobs.  The new bulletin board was placed at one of [...]

Over 10 pct of Regular Workers Think They Are Temps: Report

Over 10 pct of Regular Workers Think They Are Temps: Report

SEOUL, May 23 (Korea Bizwire) — More than 10 percent of full-time workers in South Korea consider themselves as nonregular employees because of poor working conditions, a report said Monday. According to the report by the Korea Labor Institute, 10.7 percent of South Korea’s regular workers believe they are temporary employees owing to long work [...]

Government Deliberates New Plans for Low-Income Households amid Soaring Debt

Government Deliberates New Plans for Low-Income Households amid Soaring Debt

SEJONG, Feb. 21 (Korea Bizwire) – The South Korean government is planning on new measures to support the livelihood of low-income families, who are among those suffering the most from the country’s recent economic struggles.  According to officials, South Korea’s household credit jumped by 11.7 percent in 2016 compared to the year prior, setting a [...]

Economic Growth Not Leading to Job Creation

Economic Growth Not Leading to Job Creation

SEJONG, Jan. 3 (Korea Bizwire) – South Korea’s economic growth is not creating as many jobs as before, government analysis indicated Tuesday, saddling the country with bad news when growth projections are being marked down.  Numbers provided by the Ministry of Strategy and Finance and Statistics Korea show the government expects 2.6 percent economic expansion [...]