SEOUL, Aug. 23 (Korea Bizwire) — The unification ministry said Wednesday it plans to slim down and overhaul its organizational structure, including units that oversee inter-Korean exchanges, amid strained ties between the two Koreas and heightened tensions on the peninsula. Under the plan, the ministry plans to cut 81 employees, roughly 13 percent of its [...]
SEOUL, Aug. 1 (Korea Bizwire) — South Korea’s IT industry is exploring ways to survive in a prolonged economic slump, with no clear signs of improvement in sight. The labor union of Kakao Corp., the operator of South Korea’s dominant messaging app KakaoTalk, recently held its first rally since its establishment in October 2018 as [...]
SEOUL, July 28 (Korea Bizwire) — The unification ministry on Friday announced a plan to slim down and overhaul its organizational structure amid the freezing of ties between the two Koreas and growing security tensions over the peninsula. The ministry plans to relocate around 80 employees, roughly 15 percent of its workforce, and merge four [...]
SEOUL, June 16 (Korea Bizwire) – Value Creators & Company (VCNC), the operator of ride-hailing service Tada, has decided to reduce its company payroll by half through intensive restructuring, as the company has been unable to find a new growth engine since the “Anti-Tada” bill was passed by the National Assembly in 2020. According to [...]
SEOUL, May 1 (Korea Bizwire) — South Korean startups are carrying out intensive restructuring amid lingering concerns over the state of financial markets ignited by the collapse of the United States-based Silicon Valley Bank (SVB). Zigbang, the country’s top home-matching platform, began conducting individual interviews regarding annual evaluation results starting this month and pushed many [...]
SEOUL, June 27 (Korea Bizwire) — Modetour Network Inc., South Korea’s second-largest travel service provider, has offered a voluntary retirement program for the first time in the company’s history after suffering from the prolonged novel coronavirus pandemic, industry insiders said Sunday. All of the travel agency’s 990 employees will be eligible to apply for the [...]
SEOUL, April 25 (Korea Bizwire) – SsangYong Motor Co. is seeking to cut some 10 executive jobs as part of its restructuring efforts after being put under court receivership, an industry source said Sunday. SsangYong Motor has been in the debt-rescheduling process since April 15 as its Indian parent Mahindra & Mahindra Ltd. has failed [...]
SEOUL, Aug. 31 (Korea Bizwire) — The looming second wave of the novel coronavirus pandemic has pushed South Korean film theater operators into a corner again, leading them to reduce payroll and shut down branches. Lotte Cultureworks, the entertainment unit of retail giant Lotte Group, said Saturday that it will offer voluntary retirement to long-term [...]
SEOUL, July 8 (Korea Bizwire) — A flood of job cuts unleashed by the coronavirus outbreak has been sweeping the South Korean movie theater industry amid the prolonged fallout from the pandemic. Lotte Cultureworks, the entertainment unit of retail giant Lotte Group, said Wednesday that it has asked some employees to resign as part of [...]
SEOUL, April 8 (Korea Bizwire) — Experts are anticipating layoffs at the South Korean unit of Japanese fashion retailer Uniqlo, which has been hit hard by last year’s national boycott movement against Japanese products. Chief executive of FRL Korea, an operator of Uniqlo Korea, recently mentioned the term ‘restructuring’ in an email. The email written [...]