SEOUL, Nov. 14 (Korea Bizwire) — The government on Thursday unveiled a package of measures, such as preferential interest rates and incentives, aimed at developing the domestic service industry as a new engine of growth. The measures were introduced during an economy-related ministers’ meeting held in Seoul, presided over by Finance Minister Choi Sang-mok, who [...]
HqO unveils 2024 State of Real Estate Experience (REX) report, highlighting: Two-thirds (67%) of global employees agree that workplace design contributes to their enjoyment in the office. 43% of global employees do not believe their workplace contributes to environmental sustainability. 89% of global employees feel that when they are in the office, focused work at [...]
SEOUL, June 27 (Korea Bizwire) — Ever since the pandemic has changed how we work, more than half of all workers believe that it has increased productivity. Accounting firm EY Hanyoung conducted a survey of 17,000 individuals including the management staff and employees from some 1,500 companies in 22 countries, in which 64 percent of [...]
SEOUL, Jan. 20 (Korea Bizwire) — South Korea has more room for improving productivity with a wider use of working from home, given its high internet connectivity and long commuting time caused by chronic traffic jams, a central bank report showed Thursday. According to the report by the Bank of Korea (BOK), the number of [...]
DAEJEON, Feb. 23 (Korea Bizwire) — A recently published study from South Korea has revealed the optimum conditions to raise productivity of chemical engineering using artificial intelligence (AI). A research team from the Korea Research Institute of Chemical Technology conducted an AI-based virtual experiment to demonstrate a more productive way to change methane, a greenhouse [...]
SEOUL, Jul. 22 (Korea Bizwire) — An increasing number of South Korean finance and investment companies are going beyond preferring suits and ties to allow employees to wear the clothes of their choice. Many finance firms are introducing the new policy to reflect the fact that taking off a tie helps to drop perceived body [...]
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, 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 [...]
SEOUL, Oct. 18 (Korea Bizwire) — South Korea’s small and medium-sized enterprises (SMEs) employ 88 percent of the country’s workforce, but their labor productivity stops at a third of that of large companies, a working paper from the Organization for Economic Cooperation and Development (OECD) said Thursday. Titled “Enhancing dynamism in SMEs and entrepreneurship in [...]
SEOUL, Feb. 27 (Korea Bizwire) — South Korea’s business community on Tuesday expressed concern about additional costs stemming from a looming reduction in a weekly working hours. The move came after the National Assembly’s environment and labor committee passed a bill aimed at shortening maximum statutory working hours to 52 hours a week from the [...]