The recent appointment of Poongsan Group Chairman Ryu Jin as the new head of the Federation of Korean Industries (FKI), which used to be the country s premier business lobby group, did not come as a surprise to most business insiders, despite the fact that the group s size of assets falls behind those of Korea s 70 other larger firms.
The government and a coalition of employers groups called for stern measures against what they characterized as an illegal strike railroaded by Korea s largest umbrella union that bypassed a negotiation process stipulated under the law, the industry ministry and the groups said Monday. The move came after the Korean Confederation of Trade Unions (KCTU) launched a two-week general strike Monday morning in protest against the Yoon Suk Yeol government s labor policies. Business groups argue that the collective action undermines not only the recent turnaround in the country s trade balance, but also threatens the stability of the service industries, including healthcare.
The leaders of South Korea and Japan tried to look beyond historical disputes over wartime forced labor to achieve their “shared goal” of future-oriented bilateral ties, during a s.