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Sat, August 20, 2022 | 00:06
Hyundai Motor offers jobs to Ph.D. students at top foreign universities
Hyundai Motor invited Ph. D. students at engineering schools abroad to Korea for the first time, as a part of a broader strategy to recruit highly-skilled workers to develop future growth engines, the company said Friday. The nation's No. 1 automaker said the students from top-ranked universities in North Americas and Europe came to Seoul to attend “Hyundai Vision Conference”...
KB Kookmin Bank faces lawsuit over peak wage system dispute
The union of KB Kookmin Bank said Thursday that it filed a lawsuit calling for management to pay employees the amount of salary that was cut due to a disputed peak wage system. Adopted by numerous businesses, the system put a ceiling on wages and gradually cut the annual salaries of senior-level workers several years before retirement after their pay reached what's deemed as ...
Yoon gov't urged to allow conglomerates to enter biz sectors designated for SMEs
The Yoon Suk-yeol administration is being urged to scrap a longstanding, over-decade-old policy aimed at holding back conglomerates from entering businesses exclusively designated for small and medium-sized enterprises (SMEs), by a state-run think tank in a recent report. Introduced in 2011, the policy was intended to protect SMEs from larger businesses and help them enhance ...
Gen MZ financial relief programs stir up fairness debate
Financial relief programs for those in their 20s and 30s who struggle with loan repayments have stirred up debates about equity and fairness among older people, who also have trouble paying off loans but are excluded from receiving the financial benefits due to their age. The programs are run by the government and private banks, in line with President Yoon Suk-yeol's push to ...
Major bank executives receive hefty bonuses
Executives of the country's four major banks - KB Kookmin, Shinhan, Hana and Woori - received bonuses worth 108.3 billion won ($82.6 million) between 2020 and May this year, data showed Wednesday.The banks already face growing criticism for reaping hefty profits over hikes on the key interest rate, while low-income borrowers are struggling to repay their debts.
Shinhan Bank expands in app-based food delivery market
Shinhan Bank is expanding its presence in the app-based food delivery market, after starting a trial run in November 2021 and officially launching the service in January. The number of subscribers to Shinhan Bank's app increased by 8.5 times to 157,301 between January and June, according to big data analysis company Mobile Index, Tuesday
Korea's inflation at near 24-year high, but appears to slow down
Consumer prices in Korea surged 6.3 percent in July from a year earlier, rising to almost a 24-year high by outpacing the previous record of 6 percent set in June, according to Statistics Korea. The July gain also marks the first time in nearly 24 years for the inflation rate to stay in the 6 percent range or higher for the second consecutive month. The pace of inflation, how...
Hana Financial introduces new commercial starring Son Heung-min
Hana Financial Group has introduced a new commercial starring Premier League player Son Heung-min, the group said, Monday. A Tottenham Hotspur forward and also the first Asian footballer to win the Premier League's Gold Boot award, Son has been starring in Hana Financial Group's commercials since 2018
Economic quadruple whammy weighs on SMEs
A quadruple whammy of soaring inflation, the Korean won's plummeting value against the U.S. dollar, sharply rising interest rates and demands for wage hikes are dealing a blow to small and medium-sized enterprises (SMEs), which are more susceptible to the economic crisis than conglomerates. According to recent data compiled by the Korea Industrial Complex Corp., a total of 1,...
Gov't to cut as many as 30,000 jobs at public organizations
The government will cut the maximum number of employee hiring allocations at public organizations beginning next year in a bid to overhaul management, which it is criticizing as inefficient and lax. The plan is anticipated to reduce as many as 30,000 jobs at 350 public organizations that expanded their operations under the previous Moon Jae-in administration.
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