The three largest shipbuilders (Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, and Samsung Heavy Industries) seem to slash at least 4,000 more workers this year in efforts to improve their competitiveness as the industry continues its restructuring. The three… Continue Reading
Due to sluggish domestic demand and low interest rates in Korea, banks continue to lay off workers. Banks in Korea employed a total of 115,516 people at the end of September 2016, down 1,507 year-on-year (117,023 in September 2015). Commercial… Continue Reading
As the opposition parties won a majority of the seats for the 20th National Assembly and the Environmental & Labor Committee (ELC), many bills were proposed in 2016 that lay greater burdens on companies. Many of these bills are still… Continue Reading
The Federation of Korean Trade Unions held its 26th electoral convention on 24th January 2017. Mr. Joo-young Kim (president of the Federation of Korean Public Industry Trade Unions) was elected as President, and Mr. Sung-kyung Lee (president of the Federation… Continue Reading
I. Industrial Relations in 2016 1. Conflicts over labor market reform During 2016, conflicts over labor market reform accelerated. The government released three guidelines towards implementation of labor market reform at the workplace level: guidelines on fair human resource management… Continue Reading
Restructuring in local banks is expanding towards improving workforce structure and maximizing efficiency through technological development of FinTech (Finance+Technology). The labor and management at KB Kookmin Bank have entered into a final agreement to initiate a voluntary retirement program for… Continue Reading
– Date: 9 ~ 10 February, 2017 (Thurs. ~ Fri.) – Venue: Grand Ballroom, 1st floor of the Westin Chosun Hotel (Seoul) – Theme: The Korean Economy in Crisis needs a Grand Transformation! – Organized by the Korea Employers Federation… Continue Reading