Unionization rate falls to a single digit (9.8%) for the first time The unionization rate continues to fall while the number of trade unions unaffiliated with umbrella unions is increasing. Continuously falling over the past 10 years, the unionization… Continue Reading
KEF Research on 2011 Wage AdjustmentThe agreed wage hike of this year is 5.4%, and the starting salary for new university graduate recruits stands at 2,422,000 KRW per month. The wage increase rate reached the highest since 2007, due to… Continue Reading
Industrial relations in Korea in 2011 were stable. Particularly, the time-off and multiple unions systems started off well despite a lot of concern. Nevertheless, internal conflicts still exist. The intervention in labor disputes by some politicians and civic groups through… Continue Reading
1. Labor Market Trends of 2011 and Outlook for 2012 As of October 2011, the number of employed persons increased by 407,000 year-over-year (YOY), paving the way for the Korean government to increase its target of 330,000 jobs. Still,… Continue Reading