Besides the lack of job vacancies, some South Koreans are taking time to better prepare, which accounts for their inactivity in the job market.
New data has found that nearly 360,000 young adults in South Korea spent more than three years in landing their first job.
A presidential advisory group has called for flexibility in implementing the 52-hour workweek which was first adopted in 2019.
The South Korean tech giant has opened six co-working spaces to provide a hybrid work environment for employees.
Employment in South Korea reached 28.38 in September, up 707,000 from last year, marking the largest year-on-year growth since 1999.
More must be done to inncrease female labour force participation, which is crucial to boost economic growth, says the IMF.
More South Korean workers in their 20s are staying idle amid poorer employment conditions or are engaged in temporary employment.
The rollout of flexible working arrangements varied by company size, with a greater number of larger firms offering such arrangements than smaller firms.
A proposed bill prohibits employers from making repeated or constant work-related instructions after statutory working hours.
The employment rate for women in South Korea was at 51.2% last year, which was 18.8 percentage points lower than the male employment rate.
Among small business employees, only 9.6% were paid extra for extended working hours and only 13.2% had annual leave provision.
Six out of 10 big businesses in South Korea either have no hiring plans or have yet to finalise them for the rest of 2022.
Men were found to be more sensitive than women to negative perceptions toward using parental leave, according to a new survey.
Some 66.6% of South Korean workers believe that flexible work systems are effective in reducing unnecessary overtime work.
The government also plans to tap into state funds to alleviate the debts of the self-employed and smaller merchants.
With the departure of foreign labour, factories are increasingly turning to the elderly workforce to solve their staffing crunch.
They like the flexibility to choose their working hours and enjoy the freedom from corporate culture and relationships.
The labour ministry is now making it compulsory for all workplaces employing a certain number of regular employees to provide rest facilities for their staff.
Despite the loss, Forrester expects the green economy to help make up for some losses as more countries commit to carbon neutrality.
The Federation of Korean Industries has urged employers to provide more work flexibility to employees.
Employees can work in the same virtual office with their colleagues and mingle with other workers from other firms in the shared lounge.
The reasons provided by elderly citizens include earning enough for living expenses and wanting to work so long as their health allowed.
41 trillion won (US$31.3 billion) over two years in special loans will be provided to self-employed and merchants hard hit by pandemic restrictions.
A continued growth in wage will weaken business competitiveness and lead to price hikes and inflation, claimed the Federation of Korean Industries.
The number of employed increased for the 16th consecutive month, with the tally for June climbing by more than 800,000 on-year.
The programme entails providing sick pay to workers who need to go on unpaid leave for injuries that occurred outside the workplace.
The Minimum Wage Commission has agreed on a minimum hourly wage increase of 5% to 9,620 won (US$7.40) for next year.
Increasing wages would add to the woes of small business owners during the economic downturn, cautioned a major business lobby group.
The incoming government will address the country’s 52-hour workweek policy and the seniority-based pay models adopted by most companies.
Labour representatives of the Minimum Wage Commission have proposed an hourly minimum wage of 10,890 won (US$8.4) for 2023.