SEOUL, Dec. 30 (Korea Bizwire) — The conflict between the government and business owners has intensified in South Korea ahead of the scheduled implementation of a new wage system that obligates employers to give paid leave to workers, industry watchers said Sunday. Under South Korean law, an employer must provide employees with paid leave depending [...]
SEOUL, Jan. 19 (Korea Bizwire) – Hyundai Motor will accelerate its wage system revision for production line laborers from the current seniority-based system to a performance-based and job-based wage system. According to industry officials on January 18, the trade union and management of Hyundai Motor Company are now running a joint committee to improve the wage system, [...]
SEJONG, Jan. 18 (Korea Bizwire) – South Korea’s finance ministry said Sunday it will streamline the country’s public sector by eliminating overlapping operations and expand merit-based payment to encourage healthy competition. The measures are part of the Park Geun-hye administration’s second-phase normalization plan for the public sector. Policymakers take credit for reducing debts by 24.4 [...]