HD Hyundai Heavy Union Declares Talks Broken Off, Eyes Full Strike
HD Hyundai Heavy's wage talks collapsed after eight days, with the union signaling a full strike after Chuseok.
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Workplace trends, labor market, and career development news for early-career professionals. Covers workplace culture, labor policy, and professional growth.
Second Labor Pact Under New Union Law Reaches Mid-Sized Firm
A second prime-subcontractor labor pact under Korea's amended union law was reached at Hangang EMP, the first at a mid-sized firm.
LS Cable Strikes for First Time in 37 Years Over Bonus Gap
LS Cable launched its first strike in 37 years as union and management remain 21.5 million won apart on bonuses, with walkouts spreading across…
Deposit Insurer Draws 106 Applicants Per Job Even as Relocation Looms
Korea Deposit Insurance Corp. drew 106 applicants per opening as bank hiring shrank, while only 24% of staff said they would stay after relocation.
Hana Financial to Hire 230 in Second Half, Adds Incheon Track
Hana Financial Group will hire about 230 people in the second half, adding a new Incheon shared-growth track after moving its headquarters to Cheongna.
Korea's Job Training Spending Ranks Near Bottom Among Major Economies
Korea's job training spending is 0.072% of GDP, one-fourth of France's, as AI displaces entry-level roles and youth employment falls for a 46th month.
Only 22% of Union Bargaining Demands Lead to Talks Six Months After Law Change
Only 22.4% of 456 Korean prime contractors that received bargaining demands entered talks six months after the revised Trade Union Act took effect.
POSCO Hit by First Strike in 58 Years, Threatening Steel Output
POSCO's union struck for the first time in 58 years as wage talks stalled, while youth employment fell for a 28th month.
83% of Large Korean Firms Still Pay by Seniority
Some 83.1% of large unionized Korean firms still use seniority-based pay, with 30-year veterans earning 3.08 times entry-level wages.
Foreign Chip Firms Court Korean Talent With Stock Grants, Big Bonuses
Foreign chip firms are courting Korean engineers with stock grants and starting pay above 100 million won as Samsung opens hiring for 6,000 graduates.
85% of Business Leaders Urge Reform of Korea's 52-Hour Workweek
In a Seoul Economic Daily survey of 102 business leaders and labor experts, 85% said South Korea's 52-hour workweek needs reform.
30,000 Join Strike Against Moving State Banks Out of Seoul
Korea's financial union struck against moving state banks out of Seoul, as competition for Seoul public institution jobs hit 93.5 applicants per opening.
Korean Labor Group Slams Plan to Merge Public Institutions
Korea's KCTU condemned the government's plan to merge and relocate 109 public institutions as a unilateral move that bypassed labor consultations.
Korea to Offer 20,000 Ultra-Cheap Youth Homes Outside Capital Region
Korea will supply 20,000 public rental homes for young people outside the capital region at about 30,000 won a month, backed by a 1.4 trillion won budget.
Korea Cuts Jobless Benefits by 230,000 Won a Month, Raises Premium to 2.0%
Korea will cut monthly unemployment benefits by up to 230,000 won and raise the employment insurance premium rate to 2.0% in 2027.
Korea to End Tax Credit for Big Firms Hiring Young Workers
Large Korean firms lose the integrated employment tax credit next year, ending a 56.2 billion won youth hiring incentive.
Korea's Wage Guarantee Fund Faces 1.2 Trillion Won Burden by 2030
Korea's wage subsidy program for unpaid wages at insolvent firms faces 1.2 trillion won in spending by 2030 as fund reserves plunge 67%.
Labor Ministry to Limit Strike Scope for Routine Staff Reassignments
Korea's labor ministry will limit routine staff reassignments as subjects of industrial action, while youth budget rises 53.5% to 43.3 trillion won.
POSCO Faces First Strike in 58 Years as Talks Near Deadline
POSCO's union set September 9 as its final negotiating deadline, threatening a 48-hour partial strike that would break a 58-year record without a labor…
Officetel Buyers Under 40 Get Up to 3 Million Won Tax Break
Korea will raise first-home acquisition tax relief for officetel buyers under 40 to 3 million won, with up to 6 million won in cumulative savings.
SK hynix Union Rejects Stock-Heavy Bonus, Forcing New Talks
SK hynix's production-line union rejected a plan to pay 60% of bonuses in stock by 25 votes, forcing new talks over the stock-to-cash split.
FSS Pay Falls for Third Year as 'Dream Workplace' Loses Luster
FSS pay has fallen for a third straight year to 105.8 million won, and the regulator fell four short in specialist hiring amid relocation concerns.
Hyundai Motor Union Delays Strike, Resumes Talks; Kia Plans Partial Walkout
Hyundai Motor's union delayed a strike and resumed talks as Kia planned a partial walkout, while SK hynix began a vote on its wage deal.
85% of Financial Watchdog Staff Warn They May Quit Over Relocation
A survey found 85.6% of FSS employees would consider quitting if the financial watchdog relocates outside Seoul, rising to 92.5% among working-level…
SK hynix to Pay 60% of Profit-Sharing Bonus in Company Stock
SK hynix will pay 60% of its profit-sharing bonus in company stock and 40% in cash, with a 6.3% wage increase, in a tentative labor agreement.
Korea Lifts Growth Outlook to 3.2% but Cuts Jobs Forecast
KDI raised Korea's 2025 growth outlook to 3.2% but cut its job growth forecast by 60,000 to 110,000, citing chip-concentrated growth.
Top Brokerages Add 402 Staff in Q2 as First-Half Profit Nears 10 Trillion Won
South Korea's 10 largest brokerages added 402 staff in the second quarter as first-half net profit neared 10.3 trillion won, driven by investment banking…
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KEF says operating-profit-linked N% bonuses and new plant construction cannot be subjects for collective bargaining, calling them management decisions.
Hybrid Mortgage Rates Jump 0.5 Point at Renewal in Korea
Fixed-rate mortgage costs at Korea's five major banks have jumped 0.5 to 0.8 point at renewal, adding to interest burdens for early-career borrowers.
SK hynix Union Launches With 2,400 Members to Defend Cash Bonuses
SK hynix employees have launched a merged union of about 2,400 members to protest a plan to pay bonuses in stock and to defend cash payouts.
Youth Employment Falls for 45th Straight Month; Korea to Unveil Jobs Plan This Month
Korea's youth employment fell for a 45th straight month, with the jobless rate at a 5-1/2-year high, prompting a government jobs plan this month.
Hyundai Motor Union Extends Strike Aug. 12-18 as Losses Mount
Hyundai Motor's union will strike again Aug. 12-18, pushing cumulative output losses to 42,510 vehicles as talks stall over reinstatement and retirement…
Public Bank Relocation Plan Sparks Exodus of Junior Staff
Korea's state banks face junior staff exodus over provincial relocation plans, while 1.39 million young Koreans join the Youth Future Savings program.
SK hynix Workers Move to Form Unified Union Over Bonus Dispute
SK hynix workers move to form a unified union after 3,500 rally over a plan to pay bonuses in restricted company shares.
Kakao Ends Strike, Agrees to 6.3% Total Pay Raise
Kakao's labor and management ended their first-ever strike, agreeing to a 6.3% total pay raise and a 3 million won special bonus, while youth employment fell for a 26th straight month.
Thirty Years of No-Layoff Principle: Nvidia Expands Hiring Amid Big Tech Cuts
Nvidia expands hiring under its 30-year no-layoff principle as Meta and Microsoft cut jobs, while Korea's wage arrears prosecutions hit a five-year high and Google loses key AI talent.
AI Erodes Youth Jobs: Entry-Level Hiring Falls 12%
Youth jobs in Korea fell by 210,000 over three years after ChatGPT's spread, while entry-level hiring in high-AI-exposure industries dropped 12% over 10 quarters.
Korea Weighs Jobless Benefits for Young Workers Who Quit Voluntarily
Korea's Ministry of Employment and Labor is considering once-in-a-lifetime unemployment benefits for young workers under 35 who quit voluntarily, alongside a new youth ISA and Hanwha Systems' space business hiring.
Dual-Income Earned Income Tax Credit Rises 300,000 Won; Youth Rent Credit to 17%
Korea's 2026 tax reform raises the dual-income work incentive to 3.6 million won and the youth rent tax credit rate to 17%, easing tax burdens by about 1.2 trillion won.
Only Mega Districts Exempt from 52-Hour Week? Opposition Cites Regional Discrimination
Korea's ruling party pushes a "white-collar exemption" from the 52-hour week for semiconductor mega districts, while the opposition warns of regional discrimination and unfairness for workers outside the zones.
Labor Panel Rules Wages Are Bargaining Subject for Prime Contractors
The Gyeonggi Regional Labor Relations Commission for the first time recognized a subcontractor union's right to bargain over wages with prime contractor SPC GFS, marking a turning point under the revised Trade Union Act.
SK hynix Introduces Half-Day In-Depth Interview with 800 Million Won Salary
SK hynix abolishes short interviews for a half-day in-depth format, with new employee salary estimated at 830 million won, as AI practical skills emerge as a key hiring requirement.
Kakao Reaches Tentative Bonus Deal as IT Pay Standards Draw Attention
Kakao's labor and management reached a tentative wage agreement after two strikes, with the union demanding a bonus of 10 million won equal to 13% of operating profit.
Shinhan Financial to Train 40 Young AI Finance Talents
Shinhan Financial will train 40 unemployed young people in AI finance over three months with full tuition and a 600,000 won monthly allowance, as KB Financial and other firms accelerate AI transformation.
Young Workers in Regions to Get Income Tax Cuts for Up to 10 Years
Korea plans to extend income tax cuts for young workers at regional SMEs from 5 to up to 10 years, while Hyundai Motor Group trains 500 youths and HD Hyundai Heavy Industries halts all sites for a 3-day safety shutdown.
Korea-U.S. AI Alliance Worth 1.4 Quadrillion Won Accelerates Chip Cooperation
Korea and the U.S. sealed a $950 billion AI alliance at the San Francisco AI Summit, with SK, Samsung, and Naver partnering with Nvidia and OpenAI to accelerate chip cooperation.
"N% Bonus Demand, Corporate Investment Strikes Lack Legal Justification"
A labor law expert says Samsung Electronics union's "N% of operating profit" bonus demand is a voluntary bargaining matter lacking strike justification, as Samsung's 18 affiliates begin hiring 12,000.
Average 11.2 Months to First Job, 6 in 10 Quit It
The share of Korean youth unemployed over a year after graduation hit 48.6%, a post-financial-crisis high, while 62.7% quit their first job, mostly over poor working conditions.
Tax Chief Breaks Rank, Elevates Performance Over Seniority
National Tax Service Commissioner Lim Kwang-hyun implemented performance-based appointments skipping civil service classes by 4-5 years, as Korea confronts AI job losses and youth housing barriers.
Olive Young Introduces First AI Assignment Round in Developer Hiring
CJ Olive Young introduces its first AI assignment round in developer hiring using Krafton's Kopa Probe, evaluating the entire problem-solving process, not just deliverables.