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Majority of Shipyard Workers are ‘Non-Affiliated’ Employees: Data

Majority of Shipyard Workers are ‘Non-Affiliated’ Employees: Data

SEOUL, Aug. 26 (Korea Bizwire) — About 6 out of 10 workers at South Korean shipbuilding companies turned out to be “non-affiliated” employees of subcontractors rather than the shipbuilders that use their services, government data showed Thursday. According to the Ministry of Employment and Labor, there were around 5.2 million regular workers hired by the [...]

Higher Operating Profit for Conglomerates Cuts Operating Profit for Subcontractors: Study

Higher Operating Profit for Conglomerates Cuts Operating Profit for Subcontractors: Study

SEOUL, Nov. 3 (Korea Bizwire) – The higher the operating profit is for large-sized companies, the less it is for smaller subcontractors, a recent study revealed. The Korea Institute of Public Finance announced Monday the analysis of performance among subcontractors working with conglomerates based on data from 2013 and 2014 provided by Nice Information Service [...]

Subcontractors, Freelancers Saw 69 pct Drop in Income Due to Pandemic

Subcontractors, Freelancers Saw 69 pct Drop in Income Due to Pandemic

SEOUL, Nov. 2 (Korea Bizwire) — Subcontractors and freelancers saw their incomes drop by an average of 69.1 percent in the early days of the coronavirus pandemic, government data showed Monday. The labor ministry said it conducted a partial survey of the nearly 1.7 million workers who received emergency employment relief funds from the state [...]

3 Major Shipbuilders Accused of Not Duly Paying Subcontractors

3 Major Shipbuilders Accused of Not Duly Paying Subcontractors

SEJONG, Sept. 10 (Korea Bizwire) — Major South Korean shipbuilders have been accused of not duly paying subcontractors for their works, industry sources said Tuesday. The Fair Trade Commission launched probes into Hyundai Heavy Industries Co., Samsung Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. over their alleged failures to pay subcontractors between [...]

Samsung Electronics Service to Hire 8,700 Workers from Subcontractors

Samsung Electronics Service to Hire 8,700 Workers from Subcontractors

SEOUL, Nov. 2 (Korea Bizwire) — Samsung Electronics Service Co. said Friday it will directly hire 8,700 workers from its subcontractors, the latest in a string of efforts by South Korean companies to strengthen employees’ job security. The move came roughly seven months after the repair service provider of South Korean tech giant Samsung Electronics [...]

SK hynix to Forge Broader Ties with 3 Subcontractors for R&D

SK hynix to Forge Broader Ties with 3 Subcontractors for R&D

SEOUL, Jul. 18 (Korea Bizwire) — SK hynix Inc. said Wednesday it will join forces with three of its subcontractors to carry out joint research and development projects as part of its efforts to seek shared growth. The chipmaker said it will provide “comprehensive technological support” to MiCo Ltd., UBmaterials Inc. and TEMC for the [...]

Shipbuilding Subcontractors Ask Gov’t to Investigate Illegal Practices by Major Players

Shipbuilding Subcontractors Ask Gov’t to Investigate Illegal Practices by Major Players

SEOUL, Jul. 12 (Korea Bizwire) — Subcontractors of Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries, and Samsung Heavy Industries, the three largest players in the nation’s shipbuilding industry, have asked the Korea Fair Trade Commission (KFTC) to carry out an in-depth investigation into illegal practices among the ‘big three’. A single committee instigated [...]

LG Subcontractors Suffer Financial Losses from Defective G5s

LG Subcontractors Suffer Financial Losses from Defective G5s

SEOUL, Feb. 14 (Korea Bizwire) – Subcontractors that provided the metal body for LG’s G5 smartphones criticized the electronics company on Monday, arguing that LG’s initial design failure for the products ultimately left them holding the short end of the stick. A temporary committee formed by a dozen secondary subcontractors, who demanded that LG swiftly [...]