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 [...]
SEOUL, Jul. 13 (Korea Bizwire) — Owners of mom-and-pop stores on Friday called on the government to freeze the minimum wage in 2019, claiming rising labor costs will seriously impact their profitability. If the government moves to raise the minimum hourly wage from the current 7,530 won, the Korea Federation of Micro Enterprise (KFME) won’t [...]
SEOUL, Jul. 12 (Korea Bizwire) — A new study has found that among young South Koreans earning less than 2 million won per month, few experienced a salary decrease following the increase in the minimum wage. The activist group “Youth Community Union” announced the results today after surveying 255 individuals between 19 and 39 years [...]
SEOUL, Jun. 14 (Korea Bizwire) — Two-thirds of part-time workers got a pay raise after the hike in the minimum wage this year, but the workers are divided on whether the increase in basic pay had a positive effect, a survey showed Thursday. Albamon, a portal that connects employers and seekers of part-time jobs, polled [...]
SEOUL, May 10 (Korea Bizwire) — South Korea’s restaurant industry has been shrinking at a fast clip due to a rise in the number of one-person households and other unfavorable factors, government data showed Thursday. The number of restaurant owners stood at 729,724 in December last year, down 0.51 percent, or 3,718, from the previous [...]
SEOUL, Apr. 11 (Korea Bizwire) — Most freelance workers in South Korea are poorly paid, with almost 50 percent earning less than the minimum wage. According to a survey conducted by the Seoul Metropolitan Government, the average monthly income among freelancers stood at 1.529 million won, falling just short of 1.57 million won, the monthly income [...]
SEOUL, April 11 (Korea Bizwire) — A new survey has found nearly 1 in 5 South Korean part-time workers are getting paid less than the nation’s minimum wage. According to the results of a survey conducted by part time job search portal Alba Heaven, over 20 percent of respondents worked for an hourly wage that was [...]
SUWON, Jan. 19 (Korea Bizwire) – More than 100 people responded to a job advertisement for café staff the day the it was posted. An individual referred to only as Hwang, who owns a café in Suwon, was surprised to learn that an online job ad he placed on recruiting website Albamon this month saw dozens [...]