SEOUL, Jan. 21 (Korea Bizwire) — According to convenience store industry watchers on Sunday, it has become almost impossible to find part-time work at convenience stores due to the increase in the minimum wage this year. With sales declining due to a sluggish economy and excessive competition, convenience store owners are having trouble paying part-time [...]
SEOUL, Jan. 18 (Korea Bizwire) — More than half of South Koreans think this year’s minimum wage hike will have a negative effect on the economy, a survey showed Friday. The poll of 1,002 adults nationwide by Gallup Korea found 52 percent of people predict negative economic effects from the latest minimum wage increase. Only [...]
SEOUL, Jan. 15 (Korea Bizwire) – A recent study has revealed that 8 out of 10 South Korean companies expect that this year’s rise in the minimum wage will negatively affect hiring plans. Saramin, a South Korean job search portal, asked 906 firms in South Korea, 77 percent of which said they felt uncomfortable hiring [...]
SEOUL, Jan. 7 (Korea Bizwire) — South Korea’s mom-and-pop stores on Monday called on the government to reflect their views in revising the minimum wage structure so as to minimize the fallout from rising labor costs. In a press conference held in Seoul, Choi Seung-jae, chairman of the Korea Federation of Micro Enterprise, whose organization [...]
SEOUL, Jan. 2 (Korea Bizwire) — Small business owners in South Korea may face a bumpy road again this year despite a series of government measures to support them, industry watchers said Wednesday. The year 2018 was one of the worst years for self-employed people in Asia’s fourth-largest economy as they were hit hard by [...]
SEOUL, Dec. 30 (Korea Bizwire) — The conflict between the government and business owners has intensified in South Korea ahead of the scheduled implementation of a new wage system that obligates employers to give paid leave to workers, industry watchers said Sunday. Under South Korean law, an employer must provide employees with paid leave depending [...]
SEOUL, Dec. 26 (Korea Bizwire) — Amid the controversy over the revision of the minimum wage act, which includes a weekday off, South Korean companies are facing a complicated wage system. At the same time, South Korean companies have shown greater flexibility with wage increases than in Japan, meaning wages will naturally increase as service [...]
SEOUL, Dec. 14 (Korea Bizwire) — An increase in the minimum wage has helped improve productivity at South Korean manufacturing firms in general, but its impact varied by sector and size of business, a report said Friday. South Korea’s minimum wage has gradually increased since the government first implemented the policy in 1988. Between 2011-2016, [...]
SEOUL, Jul. 23 (Korea Bizwire) – A majority of small business owners in South Korea are considering reducing staff after being having difficulty coping with the government’s recent minimum wage hikes, the latest of which is set to come into effect next year. According to a survey of 300 small business owners and vendors [...]
SEOUL, Jul. 17 (Korea Bizwire) — Food chains in South Korea are rushing to introduce more self-service kiosks as part of efforts to cut costs amid the country’s rising minimum wage, industry sources said Tuesday. The nation’s tripartite wage commission of government, management and labor decided Saturday to jack up the minimum wage for 2019 [...]