SEOUL, Aug. 17 (Korea Bizwire) — The number of jobs created in July fell to the lowest levels in over eight years, as Asia’s fourth-largest economy struggles with the fallout of corporate restructuring and stagnant domestic demand, data showed on Friday. The poor showing is a hard blow to the incumbent Moon Jae-in government, which [...]
SEOUL, Oct. 20 (Korea Bizwire) – Details of a report from the Bank of Korea released October 19 indicate that the recent boom in semiconductor manufacturing for domestic companies has led to increased plant and equipment investment, while employment figures remain nearly constant. The report identified the periods between the fourth quarters of 2002 and [...]
SUWON, Aug. 17 (Korea Bizwire) – Speaking on youth unemployment and the difficulties small and medium-sized businesses face in hiring and retaining new employees, Gyeonggi Governor Nam Gyeong Pil unveiled a number of policy proposals that would seek to resolve both issues. There were three chief proposals for those ages 18 through 34 in his [...]
SEOUL, Jul. 30 (Korea Bizwire) — The number of newborn babies in South Korea is expected to be around 360,000 for all of 2017, data showed Sunday, marking the first time for the figure to fall below 400,000. According to the data compiled by the country’s health ministry and statistics agency, the number of newborn [...]
SEOUL, June 15 (Korea Bizwire) – The number of people preparing for jobs surpassed the 700,000 mark in May for the first time ever, data showed Thursday, amid the rising unemployment among young people. The figure surged to 735,000 last month, up 13 percent from 656,000 a year earlier, the data by Statistics Korea said. [...]
SEOUL, May 30 (Korea Bizwire) – The number of employees working for local governments has exceeded 300,000 for the first time, topping 303,401 as of end of last year, announced the Ministry of the Interior on Monday. South Korea first adopted regional municipalities in 1995, when local governments hired 277,387 employees. The number of firefighters [...]
SEOUL, May 5 (Korea Bizwire) – It has been a short week, with Labor Day falling on May 1, Buddha’s Birthday on May 3, and Children’s Day on May 5. But while most working adults and students enjoy time off with family or friends, thousands of South Korean young adults yet to find work are [...]
SEJONG, March 22 (Korea Bizwire) – South Korea ranks low among the member nations of the Organization for Economic Cooperation and Development (OECD) in terms of the period during which jobless workers get unemployment benefits, a report said Wednesday. The relatively shorter period for unemployment allowances is a testament to the low level of the [...]
SEOUL, March 3 (Korea Bizwire) – Outstanding student loans, a rising unemployment rate, and an unstable housing environment are leaving Korean youth (from 19 to 34) on the brink of permanent poverty. According to the latest report on youth poverty from the Korea Institute for Health and Social Affairs, the poverty rates for those aged [...]
SEJONG, Feb. 16 (Korea Bizwire) – Last month’s youth unemployment rate (ages 15 to 29) announced by Statistics Korea Wednesday was 8.6 percent, which was a 0.9-percent drop from January 2016, and seemingly a good sign given the record high unemployment rates observed last year. Unfortunately, this was not the result of an improving labor [...]