Hyundai Motor Group (HMG) plans to take the lead in creation of jobs for youth, women, and older workers by expanding its support for social enterprises. HMG said on April 19 that it will invest KRW 34 billion in the… Continue Reading
Seoul LG Science Park, the largest research and development complex in Korea owned by a single enterprise, opened on April 20 in the Magok Industrial Zone in Gangseo-gu, Seoul, during an opening event held by LG Group. The Park will… Continue Reading
lunch, and that banks be closed during that time. According to members of the financial industry, the Korean Financial Industry Union (KFIU) submitted a proposal to the Employers’ Council of the Financial Industry at the end of March ahead of… Continue Reading
Choi Jong-Ku, Chairman of the Financial Services Commission, has cited GM Korea’s labor-management agreement and its long-term business plans as a preliminary condition for support from the government and the Korea Development Bank. Meeting with reporters, Chairman Choi stated, “The… Continue Reading
The union of STX Offshore & Shipbuilding Co. staged an all-out strike to protest the company’s restructuring program, which is about to reduce 75% of its labor costs. The union announced that about 700 unionized workers, including 300 on leave.… Continue Reading
Kumho Tire’s union voted to sell the company to the Chinese firm Doublestar. According to Kumho Tire, 60% of the 2,741 voters were in favor of the sale to Doublestar. Over 90 percent of the company’s 2,987 union workers participated.… Continue Reading
Only one in four (27.3%) foreign-invested companies doing business in Korea is satisfied with the Korean business environment, according to a survey of 300 foreign CEOs conducted by the Korea Trade-Investment Promotion Agency (KOTRA). 7.7% of respondents said they were… Continue Reading