Newsnomics AJAY ANGELINA reporter | South Korea’s labor force is predicted to shrink by 10 million in the coming two decades as the economically active nation is struggling with the ageing population and the low birth rates showed the data released on Monday May 6,2024. According to the Korean Peninsula Population Institute for the Future, a private think tank in Seoul., “the number of people aged between 15 and 64 stood at 36.57 million in 2023 is projected to go down to 27.17 million in 2044. As per data report, the number of elementary school freshmen that was 430,000 in 2023 is set to near
Newsnomics AJAY ANGELINA reporter | According to the Korean financial investment industry, the Paradise stock price closed at 15,410 won on the 3rd, the most recent trading day. It rose 8.36% compared to March 29 (14,220 won). In addition, GKL rose 9.10% from 12,860 won to 14,030 won during the same period, and Lotte Tourism Development rose 3.68% from 9,790 won to 10,150 won. It is higher than the KOSPI and KOSDAQ returns of -2.55% and -4.40% during the same period according to the financial investment industry report on May 7,2024 This upward trend can be interpreted as the result of the rec
Newsnomics AJAY ANGELINA reporter | South Korean Ministry of Justice and the Human Resources Development Service of Korea agreed to work together in regard to ensure the stable performance of national exams by signing a business agreement (MOU) on Friday, May 3, 2024. Both organizations are working together to increase public trust in more stable national test operations. Both organizations share necessary information for the operation and management of national exams and cooperate. According to the MOU signed between the Ministry of Justice and Human Resources Development Service of Korea.1)
뉴스노믹스 AJAY ANGELINA 기자 | South Korean government announced to recruit 300 foreign workers annually to meet the need of labor shortage in its aircraft manufacturing industry amid nation's declining birthrate. South Korean government, after consultations with the Korea Aerospace Industries Association and relevant industries announced its plan to invite 300 migrant workers on a pilot basis at least for two-years in order to address workforce shortages in the aviation manufacturing sector. This measure is being implemented by the government as the Korean aircraft manufacturers have been experienc
Newsnomics AJAY ANGELINA reporter | South Korean government is deploying 100 Filipino household helpers in Seoul going to start their work in early August announced by the Ministry of Employment and labor. South Korea, by issuing E-9 visa to Filipino domestic workers is going to expand domestic services like child care and housekeeping that were limited to the agriculture, fisheries, manufacturing, construction sectors, food serving in Korean restaurants, hotels and resorts, forestry and mining. South Korea has completed discussions with the Philippine government in regard of Korea’s pilot pro