SEOUL, June 18 (Korea Bizwire) — South Korea faces a steep economic cost from population decline and rapid aging, with public spending on pensions and healthcare projected to double to 20% of GDP by 2050, according to a report released Tuesday by the Bank of Korea. In the report titled “Employment Trends and Implications Based [...]
SEOUL, Feb. 28 (Korea Bizwire) — The South Korean Ministry of Agriculture, Food, and Rural Affairs announced an ambitious five-year animal welfare plan on February 27 that includes banning convicted animal abusers from owning pets and increasing fines for animal abandonment to 5 million won, marking a significant shift in the country’s approach to animal protection. [...]
SEOUL, Aug. 27 (Korea Bizwire) – The government on Tuesday proposed a budget of 677.4 trillion won (US$509.71 billion) for next year as it seeks to increase welfare spending for vulnerable people and prop up economic growth while ensuring fiscal health. The proposed budget for 2025, endorsed by the Cabinet on the day, marks a [...]
CHANGWON, Mar. 21 (Korea Bizwire) – As South Korea’s aging population continues to rise, the South Gyeongsang provincial government has announced a new elderly welfare brand aimed at addressing the four major challenges faced by the elderly – poverty, illness, loneliness, and loss of purpose. The initiative, unveiled on March 20, seeks to support a fulfilling [...]
SEOUL, Dec. 12 (Korea Bizwire) – A road maintenance company has been sanctioned by the Supreme Court for compelling parents of young children to work early morning and holiday shifts and subsequently refusing to retain them when they resisted compliance. The ruling declares that the company failed to fulfill its duty of consideration under the Equal [...]
SEOUL, March 30 (Korea Bizwire) — Korea Post, South Korea’s state postal office, said Wednesday it will expand the scope of a welfare registered mail service that has been offered on a trial basis in eight municipal districts to the entire country from next month. This service sends registered mail once or twice a month [...]
SEOUL, Nov. 28 (Korea Bizwire) — With the increasing number of single-person households choosing not to get married, South Korean companies are diversifying in terms of their welfare policies. Lotte Department Store in September began offering congratulatory or consolation subsidies to employees who are single. Any employee who is single and over 40 years of [...]
SEOUL, June 22 (Korea Bizwire) — More than half of the income earned by seniors in South Korea turned out to be labor wages, indicating that a lot of seniors still work after retirement to sustain their livelihood, a report said Tuesday. The report titled “Pensions at a glance 2021″ published by the Organization for [...]
SEOUL, Sept. 10 (Korea Bizwire) — Parcel delivery workers suffer chronically from overwork and low wages, civic activists and politicians said Thursday, calling for countermeasures to enhance their health and welfare particularly ahead of the upcoming Chuseok holiday. The Euljiro Committee under the ruling Democratic Party, dedicated to the rights of the weak, and civic [...]
ANYANG, Nov. 4 (Korea Bizwire) — Regional authorities are competing over introducing free education and welfare policies, from free lunches to school training uniforms. Gyeonggi Province’s city of Ansan recently came to an agreement at the metropolitan council to introduce programs to offer financial subsidies for college tuition starting next year. College students from a [...]