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Income declines continue for most vulnerable
The income gap continues to widen, according to data from Statistics Korea released Thursday, with record-pace declines reported for lower-income households. Government policies that were supposed to lift the earnings of workers and drive consump…
Feb 22,2019
Hong says country needs the Gwangju model
The Gwangju model is being heavily promoted by the central government, which is offering up blueprints, incentives and manuals. Last month, the Gwangju government and Hyundai Motor reached an agreement to create a joint venture that will create jo…
Feb 22,2019
Smart industrial complex test sites are chosen
Two locations have been chosen as test beds for smart-industrial complexes, with the government aiming to establish 10 such sites by 2022. From an original pool of 44 candidates, Changwon, South Gyeongsang, and the Banwol Special Zone, Gyeonggi, …
Feb 21,2019
Flexible working-hour agreement is achieved
A flexible working-hour agreement has been reached with the averaging period taken from three to six months. The period is only half of what the business community had proposed, while the labor demand for business to step up efforts to protect the…
Feb 20,2019
Long-term unemployed in Jan. hits 19-year high
The number of people who have been unemployed for over six months topped 150,000 in January, a 19-year high for the month, as the country continues to face difficulty in reviving the depressed job market. According to data from Statistics Korea, j…
Feb 18,2019
Authorities crack down on sex discrimination
Last year, the South Jeolla local government hired security officers and forest rangers. But the openings were limited to men. The Employment and Labor Ministry ordered the local government to explain why women were prevented from even submitting…
Feb 18,2019
Current account surplus hit 8-month low in Dec.
Korea’s monthly current account surplus hit an eight-month low in December on slowing exports, central bank data showed Friday. The country’s current account surplus came to $4.82 billion in December, slightly up from $4.49 billion a year earlier,…
Feb 16,2019
Government warns about international uncertainties
Korea’s economy showed a solid trend of domestic spending, but investments and exports declined amid lingering uncertainties over trade disputes between the United States and China and the semiconductor business, the Finance Ministry said Friday. …
Feb 16,2019
Mom and pops get invited to Blue House
President Moon Jae-in said the opinions of small merchants will be factored in when deciding next year’s minimum wage. But he stuck to his guns on the basic notion of raising the minimum wage - despite the loss of countless jobs - saying it’s for…
Feb 15,2019
Moon offers Busan, Sejong smart-city specifics
The campaign to build smart cities has entered a new phase, with the government revealing in what ways exactly two of the chosen urban centers will be made smart. In comments Wednesday, President Moon Jae-in said Busan will specialize in water…
Feb 14,2019
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