The employment and unemployment rates in Korea are increasing at the same time in the economy.This is because the economically active population that hopes for employment is increasing, but not as many jobs are being created as are needed to support them.According to the February Employment Trend re

The Korean government has opted to join the China-led Asian Infrastructure Investment Bank (AIIB). The signing of the MOU with China is scheduled for this month, and the official announcement of the accession may be made within this week. Recently, major European countries such as Britain, Germany,

Fourteen South Korean businessmen departed for North Korea's border town of Kaesong on Wednesday morning, as concerns grew over unilateral demands from North Korea.Recently the North has demanded to raise the minimum wage for its workers at the Kaesong Industrial Complex from US$70.35 to $74, and al

The Ministry of Trade, Industry and Energy announced on March 17 that it is holding public hearings for free trade agreements with Central America and Ecuador on April 1 at the COEX Convention Center. At present, six Central American countries – Guatemala, El Salvador, Honduras, Nicaragua, Costa Ric

The Ministry of Trade, Industry and Energy announced on March 17 that it will increase the number of colleges providing engineering training programs for foreigners from three to eight by the first half of this year. Last year, the government designated Chosun College of Science & Technology, Keimyu

President Park Geun-hye, in a meeting with rival party leaders at the Blue House, asked for bipartisan cooperation to revive the economy on Tuesday.Addressing her recent Middle East trip, Park said that it is essential for the 3 parties to cooperate to implement the deals signed in the Middle East,

A senior human rights investigator at the United Nations issued a report on North Korea’s kidnapping of numerous foreign nationals. Marzuki Darusman, U.N. Special Rapporteur for human rights in North Korea, addressed the UN Human Rights Council in Geneva on Monday, saying that more than 200,000 peop

Chinese Assistant Foreign Minister Liu Jianchao, who is staying in Korea, said at a press conference on March 16 that China is hoping to see the Korean and U.S. governments make an appropriate decision on the deployment of THAAD in the Korean peninsula. The Korean Foreign Affairs Ministry, in the me

The Federation of Korean Industries (FKI) announced on March 16 that the 30 non-financial conglomerates (business groups) in Korea with the largest amount of assets are expected to hire 121,801 job seekers this year, 6.3 percent down from the 129,989 of last year. The decrement amounted to 10.0 perc

South Korea's Yoo Ki-june, the newly-nominated minister of oceans and fisheries, said in his inaugural speech that he is actively considering expanding public access to Dokdo as a part of exercising the country's sovereignty rights.He said that he is planning to build public access facilities such a

As the government is using every possible policy means to boost the economy -- including a minimum wage increase, the Bank of Korea’s interest rate reduction to 1 percent and the Korea-style New Deal -- the business community has publicly opposed the government’s request for higher wages. Accordingl

South Korea and the United States today successfully completed the first of their annual joint military drills, Key Resolve, aiming to enhance operation and combat capabilities to deter threats from North Korea.This drill was a computerized command post exercise involving computer simulations hosted

The Korea Trade-Investment Promotion Agency (KOTRA) launched a commission for business in Central Eurasia on March 13 to collect Central Eurasia-related information and make use of it to assist in Korean companies’ businesses in the region. In the commission, the Ministry of Strategy & Finance, Mini

On March 10, the National Assembly passed a revision to the Passenger Transport Service Act. Uber cannot do business in Korea if the revision passes the plenary session scheduled for April, because it prohibits services such as those provided by Uber and rent-a-car-based taxi business. Specifically,

A hacker that had leaked data belonging to the country’s state-run nuclear operator last December made another threat on Thursday. Demanding money in exchange for not derailing those plans by selling sensitive information to third parties, he posted documents that appear to be partial blueprints of