SEOUL, Nov. 19 (Korea Bizwire) — A large majority of South Korean workers say the country’s labor market is fundamentally unequal, reflecting long-standing structural divides between large conglomerates and smaller firms, according to new research presented at a major labor conference in Seoul on Tuesday. The survey, released at the 30th-anniversary forum of the Federation [...]
SEOUL, Aug. 28 (Korea Bizwire) — South Korea’s largest companies have sharply increased their reliance on temporary workers over the past four years, raising questions about job stability in one of Asia’s most industrialized economies. According to data released Wednesday by CEO Score, which analyzed quarterly filings from 334 of the country’s top 500 companies [...]
SEOUL, Jul. 23 (Korea Bizwire) – A recent survey has revealed that more than half of foreign-invested companies in South Korea perceive the country’s overall labor market as inflexible, potentially impacting future investment decisions. The Federation of Korean Industries (FKI) conducted a survey from April 2 to 12 through Mono Research, targeting 538 foreign-invested manufacturing companies [...]
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 [...]
SEOUL, Jan. 13 (Korea Bizwire) — South Koreans put in an average of 1.3 fewer hours at their jobs in 2018, but the country still had one of the longest workweeks among Organization for Economic Cooperation and Development (OECD) members, official data showed Sunday. According to the Statistics Korea, South Korean employees worked 41.5 hours [...]
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, Dec. 10 (Korea Bizwire) — The wage gap between workers in large companies and small and medium-sized enterprises (SMEs) widened in 2014 amid a deepening polarization of the labor market, a report said Monday. According to the report published by the Bank of Korea (BOK), large businesses — those with 300 or more workers [...]
SEOUL, Dec. 3 (Korea Bizwire) — An increase in the percentage of full-time workers drives up labor productivity to some extent, a report said Monday. “Under the same conditions of labor costs, a 1 percentage point increase in permanent workers and a 1 percentage point decrease in temporary workers will bring about a 0.23-0.56 percentage [...]
SEJONG, Feb. 27 (Korea Bizwire) — Jobs offered by government agencies and state-funded corporations accounted for less than 10 percent of the country’s labor market in 2016, government data showed Tuesday, amid President Moon Jae-in’s call for expanding public employment. A total of 2.36 million people were employed in 2016 by the public sector, including [...]
SEOUL, Mar. 27 (Korea Bizwire) — An increasing number of companies providing a platform business — a service that connects users on two or more sides of a market — has changed the landscape of the global labor market, government and industry officials here said. The comments were made during an open forum hosted by [...]