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Parliament Passes Bill on Reduced Working Hours

Parliament Passes Bill on Reduced Working Hours

SEOUL, Feb. 28 (Korea Bizwire) – The National Assembly on Wednesday passed a bill aimed at shortening working hours despite businesses’ concerns about increased labor costs. The revision to the Labor Standards Act calls for reducing the country’s maximum statutory working hours to 52 hours a week from the current 68 hours. The working hours under the revision comprise 40 hours a week and up to 12 hours for overtime work. Under the current rule, [...]

Samsung Group Chairman Lee Kun-hee ‘s Offshore Account May Cost Him at Insurance Subsidiary

Samsung Group Chairman Lee Kun-hee ‘s Offshore Account May Cost Him at Insurance Subsidiary

SEOUL, Nov. 28 (Korea Bizwire) – Samsung chairman Lee Kun-hee’s position as the largest stakeholder of Samsung Life Insurance is in jeopardy after speculation over the existence of a secret offshore account was corroborated in a National Policy Committee meeting held on November 27. Politician Park Chan-dae said, “Chairman Lee’s eligibility as the largest stakeholder [...]

Youth Groups Call for Lower Age of Candidacy

Youth Groups Call for Lower Age of Candidacy

SEOUL, Sept. 20 (Korea Bizwire) — A group of South Korean youth organizations has issued a petition for voting reforms at the National Assembly, calling for the candidacy age requirements to be lowered. Known as ‘Political Reform Youth Action’, seven groups including the university division of YMCA and Min Snail Union gathered at the National Assembly [...]

Mock Parliament Episode of ‘Infinite Challenge’ Sees Lawmakers Propose Six New Bills

Mock Parliament Episode of ‘Infinite Challenge’ Sees Lawmakers Propose Six New Bills

SEOUL, April 10 (Korea Bizwire) – Popular South Korean TV Show Infinite Challenge is incorporating entertainment into lawmaking as several lawmakers who appeared on the show are set to propose six new bills to the National Assembly after discussing reforms to the current law with the show’s fans earlier this month. Infinite Challenge’s move to tap [...]