SEOUL, April 3 (Korea Bizwire) — The average wage cut revealed by South Korean office workers whose wages were slashed in the aftermath of COVID-19 was 22 percent, a poll showed Thursday. On the other hand, those who work for online distribution and communications companies said that sales rose, causing mixed emotions in different industries. [...]
SEOUL, Sept. 14 (Korea Bizwire) – As more chiefs of financial firms are jumping on the wage cut bandwagon, high-ranking officials in financial circles are contemplating joining the trend. According to industry watchers, executives from three major financial holding companies including KB, Shinhan and Hana decided to cut their own wages. However, other financial firms are waiting [...]
SEOUL, March 26 (Korea Bizwire) – South Korea’s top tech giant, Samsung Electronics, reduced its combined expenditures on wages and advertisements in 2014 apparently due to its lackluster earnings, data showed Thursday. The market behemoth handed out 9.3 trillion won (US$8.44 billion) to its employees in 2014, down 0.3 percent from a year earlier, its [...]