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Economy

Get the latest economic news, market trends, and financial insights from Korea and the world. Stay informed with Breeze in Busan.

The Urgent Need for Quality Jobs in Busan: Challenges and Solutions

The Urgent Need for Quality Jobs in Busan: Challenges and Solutions

The Korean labor market has been a hot topic of discussion recently, with its severe polarization into large firms versus small and medium-sized companies. As previously discussed, regular employees of large companies account for only 12% of the workers in Korea, leaving small and mid-sized companies struggling with chronic labor

Building Long-Term Job Solutions in Busan

Building Long-Term Job Solutions in Busan

Korea is facing a daunting challenge: a rapidly declining birth rate. The country's total fertility rate of 0.7 is one of the lowest in the world, less than half of the OECD average of 1.59. This trend is particularly evident in major cities such as Seoul,

Job Seekers Flock to Hyundai Motor Group's Recruitment Page for Production Line Workers

Job Seekers Flock to Hyundai Motor Group's Recruitment Page for Production Line Workers

Hyundai Motor Group's announcement that it will recruit production line workers for the first time in a decade has drawn the attention of tens of thousands of job seekers. The recruitment page on Hyundai's website saw over 30,000 visitors on the first day of applications,

The Medical School Black Hole: A Growing Concern in Korea

The Medical School Black Hole: A Growing Concern in Korea

The "medical school black hole" phenomenon is causing concern in Korea as it is resulting in a shortage of talent in other fields. This trend refers to the increasing number of science and engineering students being drawn to medical schools. The recent college entrance exam results have shown

Labor Shortages in Korean Shipbuilding Industry Threaten Delays in Production

Labor Shortages in Korean Shipbuilding Industry Threaten Delays in Production

Several South Korean shipbuilders are facing delays in production due to a shortage of workers. As a result, local governments are offering unconventional subsidies of around 10 million won (approximately $8,500) to attract more laborers this year. Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, and Samsung Heavy Industries,

Busan's Bid for the 2030 World Expo Hinges on Gadeokdo New Airport's Opening

Busan's Bid for the 2030 World Expo Hinges on Gadeokdo New Airport's Opening

The decision on which country will host the 2030 World Expo hinges on the opening of the Gadeokdo New Airport in Busan. In April, the Bureau International des Expositions (BIE) will conduct a due diligence visit to evaluate the transportation system, with the airport playing a pivotal role in Busan&

Busan City Successfully Completes First Year of Power Semiconductor Talent Sharing University

Busan City Successfully Completes First Year of Power Semiconductor Talent Sharing University

Busan City has completed the first year of the "Power Semiconductor Talent Sharing University," a joint project by 13 local universities and small and medium-sized businesses aimed at developing human resources for the semiconductor industry. This program, part of the Ministry of Education's LINC 3.0