General Motors (GM) decided to close its assembly plant in Gunsan, Korea, resulting in 2,000 GM Korea workers at the plant to be laid off. On 13 February, the head offices of GM and GM Korea announced that production at… Continue Reading
Korean banks are continuing layoffs despite record profits last year. Kookmin, Shinhan, Woori and KEB Hana, the four largest banks in Korea, let go of about 2300 workers through voluntary retirement packages between the 2nd half of 2017 and the… Continue Reading
Lotte Group has announced that it will use artificial intelligence (AI) to screen resumes during this year’s annual recruitment which begins in March. The new AI was developed by Lotte Data Communication and a local language processing company. It will… Continue Reading
The Korean discount retail chain Homeplus is to convert the status of its open-term workers with 12 years or more service to regular employment. On 1 February 2018, Homeplus Stores and its trade union agreed on the related employment contract,… Continue Reading
Along with the efforts of government and politicians to reduce working hours, SK Telecom will introduce autonomous flexible working hours from March 2018 at the earliest. Under the new system, workers can decide their working hours during the day as… Continue Reading
Large Korean enterprises have called for “new growth” in their new year’s messages. Hyundai Motor Group emphasized “responsible management”. The Chairman of Hyundai Motor Group stated that “the auto industry is rapidly evolving with futuristic technologies. The Group should take… Continue Reading
Fast food chains have begun to increase their prices due to the minimum wage increase, saying they have no choice due to the increasing cost of labor. KFC Korea increased prices on its menus by up to KRW 800 (USD… Continue Reading