SEOUL, Apr. 3 (Korea Bizwire) – In South Korea, the pay disparity between top executives and average employees in major corporations has reached a staggering level. Last year, the average annual salary for CEOs of large companies was reported at 2.09 billion won, while their employees earned an average of 87 million won, resulting in a [...]
SEOUL, Mar. 25 (Korea Bizwire) – A stark divide exists between the paychecks of top executives and ordinary employees at South Korea’s major conglomerates, with a new analysis revealing that executives earn on average more than 11 times the salary of regular workers. According to data compiled by Chaebul.com from the 2023 fiscal year business reports [...]
SEOUL, Dec. 5 (Korea Bizwire) — South Korea still had the largest wage inequality between genders among all 39 Organization for Economic Cooperation and Development (OECD) member states last year, a report showed Sunday. The most recent OECD report on the gender wage gap showed that South Korea had the largest gender wage gap at [...]
SEOUL, Sept. 7 (Korea Bizwire) — Gender inequality is still widespread in South Korean when it comes to employment and wages, the gender ministry said Tuesday. The Ministry of Gender Equality and Family reported that the employment rate among women stood at 51.2 percent last year, which was 18.8 percentage points lower than the male [...]
SEOUL, Aug. 31 (Korea Bizwire) — After narrowing during the COVID-19 pandemic, the wage gap between employees of large companies and small and medium-sized enterprises (SMEs) is showing signs of expanding again due to the rapid recovery of large companies’ wage growth rate. The wage level of SMEs in proportion to that of large companies [...]
SEOUL, Sept. 2 (Korea Bizwire) — Male workers in listed firms in South Korea earned 1.6 times higher wages than their female colleagues last year, a government survey showed Thursday. Men were paid an average 79.8 million won (US$68,800) in 2020, while their women counterparts received 51.1 million won, according to the study on 2,149 [...]
SEOUL, Nov. 19 (Korea Bizwire) — South Korean university graduates who land white-collar jobs at large corporations are paid an average of about 33 million won (US$29,700) in annual starting salary as of June this year, government data showed Thursday. According to the data released by the labor ministry, local companies with more than 500 [...]
SEOUL, Oct. 14 (Korea Bizwire) — The Seoul Metropolitan Government (SMG) announced Saturday that it will create guidelines to improve the gender wage gap. In the future, the city will reorganize the gender equality wage implementation guidelines of the Ministry of Gender Equality and Family to suit the city and develop self-diagnosis tables that can [...]
SEOUL, May 23 (Korea Bizwire) – The wage gap between male and female workers at large firms here widened in the first quarter from a year earlier, data showed Thursday. Women working for 202 major listed companies were paid an average 15.37 million won (US$12,910) in the January-March period, or 63.5 percent of the median pay [...]
SEOUL, Dec. 26 (Korea Bizwire) — Amid the controversy over the revision of the minimum wage act, which includes a weekday off, South Korean companies are facing a complicated wage system. At the same time, South Korean companies have shown greater flexibility with wage increases than in Japan, meaning wages will naturally increase as service [...]