Eight out of ten construction firms here said they are experiencing difficulties in paying debt interest, according to a local survey released on Monday. According to the Federation of Korean Industries' survey involving 102 construction companies among the top 500 construction firms, 76.4 percent of the respondents said they are experiencing difficulties paying debt interest with their operating profit. Only 17.
The Federation of Korean Industries (FKI), Korea s biggest business lobby, said Monday it has donated $500,000 in aid to Japan s relief efforts involving a massive earthquake that killed more than 200 people in the country.
Korean business groups were not fully happy with the government's proposal to mostly retain the existing 52-hour workweek system on Monday, calling for further reforms. The Ministry of Employment and Labor proposed to maintain the current workweek system while applying complementary measures for some industries that require greater flexibility in working hours. The Korea Enterprises Federation, in particular, st.
The hourly minimum wage for next year was set at 9,860 won ($7.8), a 2.5 percent increase from this year, the Minimum Wage Commission said, Wednesday, after the conclusion of marathon talks. The new minimum wage translates into a monthly pay of nearly 2.07 million won, up from 2.02 million this year.