SEJONG, Oct. 4 (Korea Bizwire) – The Q2 economic activity rate (EAR) for Koreans in their twenties reached its highest level in a decade at 65.7 percent after peaking in Q4 2005 at 65.8 percent. The EAR represents the percentage of the population that constitutes the manpower supply of the labor market, both employed and [...]
SEOUL, Sept. 30 (Korea Bizwire) – A recent study by KRIVET (the Korea Research Institute for Vocational Education & Training) revealed that changing one’s first job as a college graduate may guarantee a more stable career with higher pay. According to KRIVET’s study, instability and low pay were the two major factors pushing employees to [...]
SEJONG, Sept. 21 (Korea Bizwire) – The number of people who have been unemployed for more than six months in South Korea rose to a record high in August amid a persistent economic slump, data showed Wednesday. A total of 182,000 South Koreans were jobless for six months or more as of August, up 62,000 [...]
SEJONG, Sept. 13 (Korea Bizwire) – South Korea’s jobless rate increased slightly in August from a year earlier, with the unemployment rate for young adults still remaining high amid a prolonged economic slump, a government report showed Tuesday. The unemployment rate in Asia’s fourth-largest economy stood at 3.6 percent last month, compared with 3.5 percent [...]
SEJONG, Sept. 2 (Korea Bizwire) – South Korea will pour more than 65 trillion won (US$58.1 billion) into the local economy next year to revitalize the economy, which has been plagued by faltering exports and rising uncertainties in the global market, the trade ministry said Friday. Out of the 400.7 trillion won budget for 2017, [...]
SEOUL, Aug. 17 (Korea Bizwire) – The Seoul city government on Wednesday rolled out its plan to support young and emerging artists, who often have irregular jobs and low income, by providing housing and career opportunities. The Seoul Metropolitan Government plans to create some 15,000 jobs in the public sector and provide 1,000 apartments in [...]
SEOUL, Aug. 10 (Korea Bizwire) – Nearly 6 million Chinese travelers visited South Korea last year, creating an economic ripple effect worth 27.66 trillion won (US$25.28 billion), up three times over the past four years, a report said Wednesday. A total of 5.98 million Chinese nationals visited South Korea in 2015, growing an average of [...]
SEJONG, Aug. 10 (Korea Bizwire) – South Korea’s jobless rate dropped slightly in July from a year earlier, with the unemployment rate for young adults also declining, a government report showed Wednesday. The unemployment rate in Asia’s fourth-largest economy stood at 3.5 percent last month, compared with 3.6 percent tallied in June, according to the [...]
SEOUL, Aug. 4 (Korea Bizwire) – South Korea’s government on Thursday halted the Seoul city’s controversial program of providing cash allowances to thousands of young jobseekers, which kicked off earlier this week. On Wednesday, the Seoul Metropolitan Government said it had selected a total of 3,000 applicants and would provide them with 500,000 won (US$448) [...]
SEJONG, July 21 (Korea Bizwire) – The general consensus in the Korean job market is “the bigger the company, the better”. This is also the reason why working for a big-name company like Samsung is considered a ‘dream job’ among many Korean college graduates. On the other hand, small and medium-sized companies have a somewhat [...]