Minimum Wage Commisison

Mergers & Acquisitions MBK, Young Poong close in on majority of Korea Zinc

A consortium of MBK Partners and Young Poong Corp. has raised its stake in Korea Zinc Inc. to 46.7% of voting shares, drawing the group closer to ma...

Korean startups Race to win tableside ordering market heats up in Korea

Baemin, South Korea's top food delivery platform, and the country’s leading travel and accommodation booking platform operator Yanolja Co. hav...

Shipping & Shipbuilding Korea approves HD KSOE-STX Heavy merger with conditions

South Korea’s antitrust body has given a conditional nod to leading domestic shipyard HD Korea Shipbuilding & Offshore Engineering Co.'s (...

Economy South Korea’s 2025 minimum wage rises 1.7%; SMEs seen suffering

South Korea has set next year’s hourly minimum wage at 10,030 won ($7.3) – a 1.7% increase from this year’s 9,860 won, the second-...

Tech, Media & Telecom Southeast Asia, Korea Inc’s new IT outsourcing powerhouse

PHNOM PENH – South Korean technology companies grappling with prolonged software developer shortages are actively broadening their search for ...

Korean startups Money pours in for technology to reshape Korean restaurants

Investors are betting big on food service technology startups in South Korea as the adoption of self-service systems in the country’s food and...

The KED View Labor reform urged in Korea with higher wages than Japan

Wages at South Korean companies, both large and small, have surpassed those of their Japanese counterparts.According to a report on wage comparisons...

Regulations State intervention in HSCEI-tied ELS sale debacle could backfire: scholars

South Korea’s economics scholars oppose government-led countermeasures, including compensation packages, to handle mounting retail investor lo...

Shareholder activism Activist funds to wage proxy battle with Samsung C&T

Five activist funds have joined hands to wage a proxy battle with Samsung C&T Corp., demanding additional share buybacks and dividend increases....

Electronics Samsung, LG waging fierce war in OLED screen panels

South Korea’s Samsung Display and LG Display Co. are locked in a fierce war for supremacy in manufacturing OLED panels for monitors amid boomi...

Electric vehicles Kia to build 2nd purpose-built vehicle plant in Korea

Kia Corp., South Korea’s second-largest automaker, plans to build another purpose-built vehicle (PBV) factory in the country, despite the risk...

Airlines S.Korea's airline industry waging fierce price war in fall

South Korea's airline sector is meeting high travel demand during the extended Chuseok (Thanksgiving) holidays late this month by aggressively offer...

Batteries S.Korean battery trio face union risk in US after Ultium Cells’ wage deal

South Korean electric vehicle battery majors’ plan to run more than 10 EV battery manufacturing plants in the US may hit a snag due to the loo...

North Korea N.Korea's GNI lower than S.Korea's minimum monthly wage in 2022

It is estimated that North Korea's economic growth rate recorded -0.2% last year. This marks the third consecutive year of negative growth since the...

Economy S.Korea to tighten immigrant investor requirements

South Korea will raise the minimum requirements for the country’s investment immigration visa program amid growing controversy over foreigners...

Korean games Nexon's oldie but goodie MapleStory beats Diablo 4 in Korea

Gaming Giant Nexon Co.’s 20-year-old title MapleStory knocked down US Blizzard Entertainment’s global-hit Diablo 4 in South Korea, helpi...

Korean games S.Korea's game companies wage all-out offensive to recruit AI talent

The race in South Korea to secure artificial intelligence (AI) know-how in the video game industry, the hottest trend in the field, is intensifying ...

Automobiles Hyundai Motor union demands higher wages on record earnings

Historically, Hyundai Motor Co.'s labor union has been among the most hardline in South Korea's corporate wage negotiations.Despite the relatively l...

Korean games S.Korea's game companies wage intense war in MMORPG sector

South Korea's massively multiplayer online role-playing games (MMORPG), a mainstream genre in domestic games, is showing signs of an increasingly he...

Content platforms Korea’s homegrown OTT Watcha at crossroads amid dearth of cash

South Korea’s homegrown over-the-top (OTT) platform Watcha Inc. is struggling to raise funds as it faces an uphill battle to win over customer...

Economy S. Korea foresees recession in falling freight prices, wages

Global ocean freight prices are falling amid a darkening outlook for South Korea, as Asia’s fourth-largest economy heavily depends on overseas...

Korean chipmakers Samsung's chipmaking unit raises initial base salary to match SK Hynix's

Samsung Electronics Co.'s device solutions (DS) division, which manufactures semiconductors and displays, has raised its initial annual base salary ...

Private equity Korea's small PE firms putting fundraising plans off to 2023

South Korea’s small and mid-sized private equity firms are increasingly postponing fundraising schedules for their project-based funds to the ...

Economy Korea’s minimum wage to exceed Japan’s due to forex

TOKYO – South Korea’s minimum wage per hour is poised to exceed Japan’s for the first time as early as this October.A subcommittee...

Supply chain Korean truck drivers end strike as govt agrees to extend wage guarantee

South Korea’s unionized truck drivers have decided to end their eight-day strike after the government agreed to extend minimum wage guarantees...

Automobiles Online platforms emerge as new battlefield for auto sales in Korea

Visiting a car dealer’s stylish showroom to touch, feel and sometimes test drive a car before purchase has for decades been a rite of passage ...

Economy Korean wage growth increases inflationary pressure

South Korea’s wage growth in the third quarter hit its highest point in three and half years, adding to inflationary pressure in Asia’s ...

Automobiles Hyundai's Genesis beats Lexus' selling price in US

The rising demand for high-end vehicles, despite dwindling production caused by semiconductor shortages, are driving new vehicle prices to record hi...

Economy Inflation fears spread in S.Korea amid wage hikes

Inflation figures have entered a rising trend in South Korea amid ongoing competition across industries for higher wages. The country’s expect...