Korea Joongang Daily
Korea JoongAng Daily

Commission under Labor Ministry to hold first meeting to set next year's minimum wage

The Minimum Wage Commission under the Ministry of Employment and Labor is set to hold the first of what will likely be many heated meetings on Tuesday to set the country's minimum wage for next year.

2026-04-21

Budget minister nominee calls for 'long-term' preparation for universal basic income

Budget Minister nominee Park Hong-keun said Friday the introduction of a universal basic income scheme should be prepared over the long term, while pledging fiscal support for vulnerable young people.

2026-03-20

Banks' earnings up 8.2% in 2025 on noninterest income

Korean banks' combined net profit jumped by more than 8 percent last year from a year earlier due mainly to a rise in noninterest income, data showed Thursday.

2026-03-19

Happiness eludes Koreans despite national income increases, quality of life report says

Koreans are earning more than ever, but fewer are satisfied with their income — the first drop in a decade, a new government report shows. Negative emotions have risen to levels similar to those seen during the Covid-19 pandemic.

2026-03-09

Household income in Q4 rises 4% on higher wages, holiday bonuses

Korea's average household income rose 4 percent from a year earlier in the fourth quarter, driven by a rise in wages, government data showed Thursday.

2026-02-26

Cabinet approves revision to law to resume heavier capital gains tax on owners of multiple homes

The Cabinet on Tuesday approved a revision to the enforcement decree of the Income Tax Act that will end a temporary exemption from heavy capital gains taxes for owners of multiple homes.

2026-02-24

Average monthly wage rose 3.3 percent in 2024, buoyed by foreign institutions, finance and insurance

The average monthly salary of wage earners in Korea at the end of 2024 rose 3.3 percent from a year earlier, driven by higher earnings at foreign institutions as well as financial and insurance sectors, government data showed Monday.

2026-02-23

LIG Nex1 reports 2025 net income down 0.5 percent to $146.7 million

Lig Nex1 on Friday reported its 2025 net income at 211.7 billion won ($146.7 million), down 0.5 percent from a year earlier.

2026-02-13

Children who stay in hometown 'inherit' parents' economic status, BOK finds

Children born to low-income parents outside the Seoul metropolitan area are more likely to remain in the same economic bracket as their parents if they stay in their hometowns, according to a joint report released on Wednesday.

2026-02-11

Almost 40 percent of Koreans over 65 living below median income line, worst among OECD nations

Four out of 10 older Koreans are living on less than half the country's median income, the highest percentage of any OECD member state, as the rapid growth of Korea's aging society is wearing down the social safety net for people after retirement.

2025-12-26