SEOUL, April 20 (Korea Bizwire) – The Seoul Metropolitan Government announced Wednesday that it has partnered with two additional tailors in Sinchon and Wangsimni for its free suit rental initiative starting May 22. The city launched the service last year near Konkuk University to help unprivileged job seekers amid South Korea’s rising youth unemployment rate. [...]
SEOUL, April 6 (Korea Bizwire) – Seeking stability amid stiff job competition and a prolonged economic downturn, the number of test takers for civil service jobs is skyrocketing. In 2016, there were 257,000 young Koreans (aged 15 to 29) preparing for public service examinations, up by 38.9 percent from 185,000 in 2015, and accounting for [...]
SEOUL, March 9 (Korea Bizwire) – Raising grown-up children made the top five list of retirement risks amid rising youth unemployment in Korea, increasing the financial burden on local retirees. According to the latest report on retirement, compiled by the Mirae Asset Retirement Institute, the five major risks suffered by retirees in their 50s and [...]
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 [...]
SEOUL, Sept. 5 (Korea Bizwire) – Chuseok, also referred to as Korean Thanksgiving, is one of the two major traditional holidays in Korea with the other being Lunar New Year. It is also the time for families to visit their hometowns, meet their parents and relatives, and catch up. However, it has become a stressful [...]
SEOUL, Aug. 24 (Korea Bizwire) – Despite perpetual criticism of the perfection-seeking recruitment process at Korean companies, a recent study has revealed that prying job application requirements and academic background-driven employment systems are still prevalent among the majority of domestic firms. The study was carried out by the Ministry of Employment & Labor and Korea [...]
SEJONG, Sept. 29 (Korea Bizwire) – Unemployment among young people in South Korea is worse than the level reached during the global financial crisis, a state-run think tank said Tuesday, calling for urgent measures to tackle the problem. The Korea Institute for Industrial Economics and Trade (KIET) said in a report that overall conditions for [...]
SEOUL, July 5 (Korea Bizwire) – Nearly half of South Korea’s top 30 business groups reduced their workforces in 2014 due to sluggish business, data showed Sunday, despite the government’s effort to spur their employment. As of end-December, the combined workforce of the leading business groups came to 1.27 million, up a mere 0.6 percent, [...]
SEJONG, June 8 (Korea Bizwire) — South Korea will ramp up efforts to help young people find jobs in foreign countries in an attempt to cope with stubbornly high youth unemployment, the government said Monday. The move comes as the jobless rate among people aged between 15 to 29 stood at 10.2 percent in April, [...]
SEOUL, May 29 (Korea Bizwire) – Severe youth unemployment is pushing unemployed university degree holders to the part-time job market. According to a report released by the Korea Research Institute for Vocation Education and Training (KRIVET) on May 28, 69 percent of unemployed university graduates have worked part-time jobs after their graduation. By gender, more women [...]