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Finance

Policies

Mon, December 9, 2019 | 15:12

Unskilled workers bear the brunt of minimum wage hikes

Unskilled workers bear the brunt of minimum wage hikes

The number of unskilled workers in employment fell the steepest in November as many small businesses retained fewer manual laborers on their payrolls to cope with soaring labor costs, according to Statistics Korea, Sunday.

2018-12-16 16:32

Employment rebounds on gov't plan

Employment rebounds on gov't plan

The number of jobs created in November climbed back up to above 100,000 for the first time in five months, according to Statistics Korea, Wednesday. It stood at 165,000, the biggest increase this year, thanks to the ongoing hiring of temporary workers and interns by state-run enterprises. In 2017, the average number of jobs created per month was 300,000.

2018-12-12 16:14

'Korean economy to bottom out after 2020'

'Korean economy to bottom out after 2020'

South Korea is expected to face a further economic downturn due to multiple downside risks, such as the global slowdown and a possible hard landing of the Chinese economy, Hyundai Research Institute said, Sunday. The private think tank said that the Korean economy will bottom out after 2020.

2018-12-09 17:21

Employers call for eased minimum wage increase

Employers call for eased minimum wage increase

The Korea Employers Federation (KEF) has called on lawmakers to seek ways to slow the minimum wage rise and ease other labor-related rules that they claim will further increase the burden on business.

2018-12-09 17:04

Investors rush to savings accounts riding on rate hike

A 29-year-old office worker, surnamed Kim, put most of his savings into stocks and cryptocurrencies over the past year, but has recently decided to place his money in a savings account after banks introduced a series of products with interest rates of more than 4 percent.

2018-12-07 16:35

More working mothers struggling to stay in jobs

More working mothers struggling to stay in jobs

A 31-year-old former movie distribution company worker who recently quit her job to raise her child said there is still a barrier for working women in Korea.

2018-12-07 16:35

South Korea's exports to reach record high of $600 billion by year-end

South Korea's exports to reach record high of $600 billion by year-end

South Korea's exports are expected to exceed $600 billion for the first time this year on upbeat sales of memory chips, machinery and petrochemical products, the trade ministry said Friday.

2018-12-07 10:36

Korea opens '$30,000 per capita income' era

Feud between FSC, FSS deepening

Feud between FSC, FSS deepening

A feud between the Financial Services Commission (FSC) and Financial Supervisory Service (FSS) has come to the surface, after union members of the latter issued a statement Dec. 3 requesting President Moon Jae-in dismantle the FSC.

2018-12-06 16:52

Entrepreneurs disapprove of SMEs minister's performance

Entrepreneurs disapprove of SMEs minister's performance

Minister of SMEs and Startups Hong Jong-haak, who completed his first year in office on Nov. 21, has failed to meet expectations from small businesses, mainly due to his “inability” to implement corporate-friendly policies under labor-leaning President Moon Jae-in, a survey conducted by ministry correspondents showed Thursday.

2018-12-06 15:10

Ex-President Chun included in list of tax delinquents

Ex-President Chun included in list of tax delinquents

The National Tax Service (NTS) Wednesday disclosed a list of habitual delinquent taxpayers who each owe the tax office more than 200 million won ($179,388) worth of taxes. The list includes former Korean President Chun Doo-hwan and infamous lawyer Choi Yoo-jung who allegedly packed improper gains worth over 10 billion won in attorney's fees.

2018-12-05 18:04

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