SEOUL, Jun. 3 (Korea Bizwire) — The culture of so-called ‘work and life balance’ is spreading throughout small and medium sized firms in South Korea through various policies including a four-day workweek and special leaves of absence offered between national holidays. Small and medium-sized companies are beginning to offer various welfare incentives, pointed a major [...]
SEOUL, Jul. 13 (Korea Bizwire) — Owners of mom-and-pop stores on Friday called on the government to freeze the minimum wage in 2019, claiming rising labor costs will seriously impact their profitability. If the government moves to raise the minimum hourly wage from the current 7,530 won, the Korea Federation of Micro Enterprise (KFME) won’t [...]
SEOUL, April 17 (Korea Bizwire) — During the latter half of last year, the number of business failures among self-employed South Koreans outstripped new business openings. According to a report from property research institute Research & Review, which was based on data from the Small Enterprise and Market Service, 2.5 percent of small businesses in the [...]
SEOUL, July 20 (Korea Bizwire) – A study said the government’s regulation to designate industrial areas exclusively reserved for small- and mid-sized enterprises has not helped the companies since its introduction in 2011. According to a report authored by Professors Bin Ki-beom and Woo Seok-jin of Myongji University at the request of the Federation of Korean [...]