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Average Doctor’s Salary in South Korea Tops 300 Million Won, Fueled by Shortage

Average Doctor’s Salary in South Korea Tops 300 Million Won, Fueled by Shortage

SEOUL, May 16 (Korea Bizwire) – The average annual salary for doctors in South Korea surpassed 300 million won in 2022, according to government data on physician workforce and wages released on May 14. The data, submitted by the Ministry of Health and Welfare to the Seoul High Court on May 10, represents the latest official [...]

Internal Discontent at KEPCO Over ‘Salary Return Agreement’ for Voluntary Retirement Funding

Internal Discontent at KEPCO Over ‘Salary Return Agreement’ for Voluntary Retirement Funding

SEOUL, Jan. 24 (Korea Bizwire) — The Korea Electric Power Corporation (KEPCO), grappling with a debt of 200 trillion won, is causing internal strife after asking employees to sign a ‘salary return agreement’ to fund voluntary retirement severance. This move has sparked significant discontent among employees, with some questioning why employee money is being used to [...]

Ulsan Has Highest Average Salary Among Korean Cities, with Significant Gap from Lowest-Paying Jeju

Ulsan Has Highest Average Salary Among Korean Cities, with Significant Gap from Lowest-Paying Jeju

SEJONG, Jan. 22 (Korea Bizwire) — In South Korea, Ulsan has emerged as the city with the highest average salary for office workers, significantly outpacing other regions including Jeju, which has the lowest wages among the 17 cities and provinces. This disparity was highlighted in a report by Yang Kyung-sook, a member of the National Assembly’s [...]

South Korea to Increase Salaries of Front-Line Junior Officers and NCOs by Up to 30% by 2027

South Korea to Increase Salaries of Front-Line Junior Officers and NCOs by Up to 30% by 2027

SEOUL, Dec. 10 (Korea Bizwire) — South Korea plans to raise the annual salaries of entry-level military officers and non-commissioned officers (NCOs) at border units by up to 30 percent by 2027 from this year, the defense ministry said Sunday, amid a push to improve working conditions of troops. The salary for a new staff [...]

Highest-paid Executives Earned 16 Times More than Median Worker Last Year: Data

Highest-paid Executives Earned 16 Times More than Median Worker Last Year: Data

SEOUL, March 29 (Korea Bizwire) — At South Korea’s biggest enterprises, the highest-paid executives made 16 times more than the median worker last year, a corporate tracker said Tuesday. Leaders Index analyzed data from 282 Korean companies that disclosed information on their highest-paid earners for last year. The annual wage of these companies’ highest-paid executives [...]

Wage Workers Over Age 65 Make Less than 1 mln Won per Month: Data

Wage Workers Over Age 65 Make Less than 1 mln Won per Month: Data

SEOUL, Sept. 15 (Korea Bizwire) — Around 45 percent of household heads over 65 years of age engaged in wage worker earn less than 1 million won (US$717) each month, data showed Wednesday. Statistics Korea reported that 44.6 percent of wage workers over 65 years of age make less than 1 million won in labor [...]

Women in Web-based Platform Industry Earn Less than Men

Women in Web-based Platform Industry Earn Less than Men

SEOUL, Feb. 25 (Korea Bizwire) — Women working in the field of web-based platforms earn less than 80 percent of what men typically earn for similar work, a government report said Thursday. The state-run Korea Employment Information Service conducted a survey of 1,023 web-based platform workers in September and October of last year, which showed [...]