SEOUL, Feb. 13 (Korea Bizwire) – Korea’s youth unemployment rate is skyrocketing to unprecedented levels, and the unemployment rate for workers between the ages of 15 to 24 has surpassed that of the U.S. for the first time in 16 years. Even amidst the global economic recession, youth unemployment in most advanced countries has partially [...]
SEOUL, Oct. 24 (Korea Bizwire) – One out of every two college students believe job market conditions have worsened this year, while more than half of would-be jobseekers said they wanted to work for a large firm or a public enterprise, a survey showed Monday. In the survey conducted by the Federation of Korean Industries [...]
SEOUL, Feb. 19 (Korea Bizwire) - Kim Man-bok takes pride in being able to walk up subway stairs and talk over his cellphone without a hearing aid at the age of 76. After getting bored of spending time in parks and mountains, the retired trade company official went out of his comfort zone to do something [...]
SEOUL, Aug. 28 (Korea Bizwire) — With an umbrella labor union’s decision to resume talks with the government and management, adopting a peak wage system to boost youth employment is likely to become a hot potato at the tripartite talks. On Wednesday, the Federation of Korean Trade Unions (FKTU) said that it will resume the [...]
SEJONG, Aug. 27 (Korea Bizwire) — South Korean youths are faced with the stark reality of ever-decreasing job opportunities as companies remain reluctant to hire amid a protracted economic slump, and are poised to slash labor costs to prepare for the extension of the retirement age to 60 next year. Asia’s fourth-largest economy is plagued [...]
SEOUL, Jan. 14 (Korea Bizwire) — One of five South Koreans start their career with temporary jobs with a contract period of less than a year, government data showed Wednesday, reflecting toughening job market conditions for fresh high school and college graduates. Some 761,000 workers between the ages of 15 and 29, or 19.5 percent [...]
SEOUL, Oct. 22 (Korea Bizwire) – It becomes common that humanities majors are neglected while STEM (science-technology-engineering-math) majors take center stage in job markets across the world. The Wall Street Journal reported on June 6, 2013, that the unemployment rate of graduates majoring in English among recent college graduates in the United Sates was 9.8 percent. [...]
SEOUL, May 9 (Korea Bizwire) – It turns out that a large number of corporate officials, who have participated as examining panels in recruiting process including document screenings and interviews, are not satisfied with their company’s hiring system. According to a survey of 235 business officials, who have taken part in the hiring process, conducted [...]
SEOUL, Korea, April 10 (Korea Bizwire) – Female job seekers in Korea seem to have had a tough time in the job market last year. In 2013, as the growth rate of employment of male workers has become nearly twice that of female workers at the top-ten conglomerates, the proportion of female employees has declined [...]
SEOUL, Korea, Sep 16 (Korea Bizwire) – We are seeing so many comments by the world’s famous economists and top market analysts that the Korean economy is doing so well. The Wall Street Journal said on August 28, “Korea is the winner amid the emerging market turmoil.” JPMorgan chief economist Michael Feroli also said on September [...]