Recent news
Latest items of recent news relevant to South Korea as reported in our fortnightly newswire ‘Dernières nouvelles’.
South Korea: What to do if an employee misuses a corporate card?
The High Court of Seoul has ruled in a landmark case that use of a company credit card for personal expenditure does not necessarily amount to a valid reason for employment termination – if the amounts for transactions are relatively small and over an extended period …
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South Korea: Government vows efforts for suicide prevention
One of the biggest social problems in this Asian country is suicide …
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South Korea: Amendment to Unfair Competition Law
On July 18th an amendment to the Unfair Competition Prevention and Trade Secret Protection Act comes into force …
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South Korea: Companies with 300+ employees soon will not be able to employ staff for more than 52 hours a week
From the 1st of July companies with 300+ employees will not be able to employ staff for more than 52 hours a week – 40 hours basic plus up to 12 hours overtime …
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South Korea: Moon renews pledge to raise minimum wage
The 25-person Minimum Wage Commission has begun its deliberations on the wage level to be set for 2019 …
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South Korea: General Motors continues in talks
General Motors continues in talks with government, banks and its trade union about cut-backs and plant closures …
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South Korea: Government designates 5 more areas as employment crisis zones
The government is planning to designate another 5 areas – Geoje and Tongyeong, as well as Goseong county and the districts in Changwon and Ulsan – as employment crisis zones due to the restructuring of shipbuilding and auto industries …
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South Korea: GM warns of bankruptcy for S Korea unit barring union concessions
The trade union representing GM workers has stated that it will not make a formal wage demand this year, provided the company guarantees jobs for ten years, allocates new models to the GM plants in the country and gives each worker shares in GM Korea to the value of 30 million won (US$28,214) …
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South Korea: Organised crime groups increasingly hampering law enforcement efforts
In the latest issue of IHS Jane’s Intelligence Weekly there is a warning that crime gangs are increasingly turning to the operation of seemingly legitimate enterprises to evade law enforcement and particularly to entrap foreign businesses …
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South Korea: Maximum weekly working hours to be reduced to 52
The National Assembly has just approved a Bill amending the Labor Standards Act …
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South Korea: Gunsan city designated as economic ‘crisis zone’
Gunsan, a port city some 270 km southwest of the capital Seoul, has been designated as an employment crisis area recently after General Motors announced it would be shuttering a factory there …
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South Korea: Hyundai Motors reached agreement with its unions
The largest carmaker in the country, Hyundai Motors, has finally reached agreement with its unions on a one-year pay deal …
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South Korea: New requirement for merger and demerger deals
A new requirement has been introduced as a pre-condition to allowing merger and demerger deals to be free of tax …
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South Korea: Hyundai workers stage strikes in push for higher wages
Hyundai’s 51,000-member union has started industrial action in a push for higher wages and bonuses …
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South Korea: Minimum wage
Next year the country’s minimum wage is set to increase by 16 …
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