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Local Builders Speed Up Restructuring to Brace for Industry Slump

Local Builders Speed Up Restructuring to Brace for Industry Slump

SEOUL, Dec. 5 (Korea Bizwire) — Local builders are resorting to early retirement plans and large-scale manpower reshuffles to weather a possible industry-wide slump going forward, people in the sector said Wednesday. Samsung C&T has been carrying out staff restructuring over the past two years and recently opened an early retirement package to employees who [...]

Even Wealthy Families Tighten Purse Strings amid Economic Slump

Even Wealthy Families Tighten Purse Strings amid Economic Slump

SEOUL, Jan. 11 (Korea Bizwire) – South Koreans, both poor and rich, are tightening their belts with no economic recovery in sight and the prices of goods ascending, data showed Wednesday.  The spending-to-income ratio of local households hit a record low despite stagnant wage levels.  Department stores and duty-free shops, two routine shopping spots for [...]