Seoul City has released an updated guide on living in Korea for multicultural families. “Hanultari Living Guide for Multicultural Families” aims to minimize the difficulties experienced by multicultural families living in Seoul due to a lack of information or cultural gaps, the city said.It includes basic information relevant to foreign residents, as well as information about programs and policies for them, and relevant support organizations for multicultural families and foreign residents.The b

INCHEON – Incheon Airport has been praised for its excellent service, chosen as the world’s No. 1 airport for 12 years in a row. Beneath the fancy title, however, the airport has long been viewed by local labor experts as a microcosm of the country’s sharply-polarized labor market: Nearly 85 percent of the workforce here are “irregular workers” on an average salary that is less than half that of the “regular workers.” Precisely for that reason, President Moon Jae-in chose it as the place to star

The use and the amount of money traded via smartphone banking apps has continues to surge becoming a major transaction platform, the Bank of Korea’s data showed.As of the first quarter this year, an average of 94.12 million transactions were made through smartphone banking, up 7.3 percent from the previous quarter, accounting for up 61 percent of all internet banking.Daily transactions averaged 3.63 trillion won, up 8.3 percent from the previous quarter.As of the end of March, a total of 7

Mirae Asset Daewoo on Wednesday denied recent reports that the company is considering taking over SK Securities. A report on the previous day said that the company would push forward several takeovers to expand its equities and develop itself into a mega investment bank. It also predicted that SK Securities is the leading candidate as there were rumors that Mirae Asset Daewoo Chairman Park Hyeon-joo had made a visit to the SK group recently.Such news had led to the jump in SK Securities’ s

Following the ouster of former President Park Geun-hye and the election of President Moon Jae-in, some foreign investors in Korea have heaved a sigh of relief in anticipation that the country’s economic instability during the turbulent political times will finally begin to normalize. Foreign-invested firms make up 20.9 percent of the nation’s total exports and 5.7 percent of jobs. Of these firms, roughly 2,500 are European companies operating in Korea. Dimitris Psillakis, president a

President Moon Jae-in on Wednesday tapped six vice ministers of key government departments, as a fill-in measure while minister nominees await the parliament’s approval on their appointment.In contrast to minister nominees, who are mostly from outside the organization which they are set to lead, the vice ministers were picked from within.From left are Ko Hyoung-kwon, Park Choon-ran, Cho Hyun, Chun Hae-sung, Shim Bo-kyun and Maeng Sung-kyu (Yonhap)Ko Hyoung-kwon, director at the Asian Development

South Korea’s Supreme Court confirmed Wednesday a three-year jail sentence for Han Sang-gyun, the leader of the nation’s second-biggest umbrella labor union, for leading violent rallies. Labor groups denounced the ruling as a regression of democracy.Han, head of the Korean Confederation of Trade Unions, was convicted on charges of leading a series of illegal rallies at the end of 2015 and causing damage to public property and police officers.Protesters hold candles at a rally held near the Const

South Korea’s central bank said Wednesday it is investigating a claim by a female employee that she was verbally harassed by two male superiors for nearly two years. The woman who works at a provincial branch of the Bank of Korea filed the report in April, saying two of her senior colleagues at the office made sexually humiliating remarks several times between 2015 and last year.(123RF)One of the remarks revealed by local reports was: “Women are good at peeling fruit and men are good at strippin

Posco, South Korea’s largest steelmaker, was pushed down in the rank of crude steel production to No. 5 worldwide in 2016, largely due to a merger of China’s steel producers, the industry data showed.Posco produced 41.5 million tons of crude steel and was listed as the world’s fifth largest crude steel producer among 50 companies surveyed, according to data compiled by the World Steel Association. (Yonhap)In 2015, the local steelmaker came in at No. 4 with 41.9 million tons.Hyundai Steel, South

The Ministry of National Defense deliberately omitted information regarding four additional THAAD launchers brought into the country, the presidential office said Wednesday. According to Cheong Wa Dae, its probe into the development revealed that the Defense Ministry deliberately excluded the information when briefing the de facto presidential transition committee Friday. “Cheong Wa Dae’s probe has confirmed that the Ministry of National Defense deliberately omitted the fact that four additional

KB Savings Bank will launch a simplified authorizing service next month, allowing users to access smartphone banking services without certificate verification or other security media.The service will enable customers who have downloaded KB Savings Bank’s smartphone application to open new bank accounts and utilize financial services with their personal identification numbers only. It can be used straight after a simple procedure of a non-face-to-face real name confirmation process as long

As the confirmation of the prime minister nominee seemed to get back on track Wednesday, the presidential office shifted its focus to the legislation of key bills reflecting President Moon Jae-in’s key election pledges.Among them is a plan to reduce regular working hours and to ban employers from making their staff work overtime without compensation. Dubbed the “no work after 6” bill, the legislative proposal aims to address the widespread workplace culture in South Korea where those who finish

The number of cars manufactured in South Korea fell at the fastest pace among the top 10 carmaking nations in the first quarter, data showed Wednesday. According to the Korea Automobile Manufacturers Association, the country produced close to 1.05 million vehicles in the first three months of this year, a 2.8 percent decrease from a year ago. The percentage of production decline was the lowest among the world’s 10 car manufacturing countries. Of the top 10, only three countries saw a decline in

South Korea’s manufacturing sentiment inched down in May from the previous month, the first decline in nine months, as producers were psychologically pressured from reduced business days with more holidays in May, the Bank of Korea said Wednesday.The business survey index in the manufacturing sector dropped to 82 in May from 81 in April. The index remained low at 71-72 from August to December but began to rise in earnest from 75 in January to 83 in April with robust exports. The manufactur

Confusion is growing over the implementation of a merit pay system at public organizations in the country, as President Moon Jae-in and his aides are pushing to repeal the measure introduced under previous administrations.During his campaign for the May 9 presidential election, Moon pledged to immediately abolish the performance-based wage system if he became president.Kim Jin-pyo, head of a commission functioning as the de facto transition team of the new administration, said last week that wor