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 [...]
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 [...]
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 [...]
SEOUL, May 14 (Korea Bizwire) — Kakao Corp., a major South Korean tech firm, beat its rival Naver Corp. in terms of average wage for three consecutive years through 2022, data showed Sunday. Kakao, which operates the country’s most popular mobile messenger, KakaoTalk, saw its average wage reach 139 million won (US$103,422) last year, hovering [...]
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 [...]
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 [...]
SEOUL, Aug. 17 (Korea Bizwire) — There continues to be a wide wage gap between doctors and wage workers, data showed Tuesday. The National Health Insurance Service reported that doctors working at general hospitals and other medical institutions in the country earn around 19.21 million won (US$14,650) each month as of 2020. The average monthly [...]
SEOUL, April 29 (Korea Bizwire) — After the presidential transition team confirmed plans to raise soldiers’ monthly salary to 2 million won (US$1,574), a group of low-ranking public servants made a strong appeal to improve their labor conditions. “All of the nation’s public servants work hard and have tough times today due to COVID-19,” said [...]
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 [...]
SEOUL, Feb. 21 (Korea Bizwire) — The average monthly salary of wage earners rose 3.6 percent on-year in 2020 from a year earlier despite the COVID-19 pandemic, a government report showed Monday. South Korean wage workers earned a monthly average of 3.2 million won (US$2,669) in December 2020, up from 3.09 million won a year [...]