Latest news with #KoreaEnterprisesFederation
Korea Herald
15-05-2025
- Entertainment
- Korea Herald
Interpreter to presidents: Choi Jung-wha becomes first Korean woman to receive Legion d'Honneur Officier
Choi Jung-wha, president of the Corea Image Communication Institute, has become the first Korean woman to be awarded the Legion d'Honneur Officier, the highest decoration in France, in recognition of her outstanding contributions to strengthening Korea-France relations and advancing cross-cultural exchange. The award was presented on Thursday during a ceremony at the French Embassy in Seoul's Seodaemun-gu. Approximately 70 distinguished guests attended the event, including Poongsan Chairman Ryu Jin, Korea Enterprises Federation Chairman Sohn Kyung-shik, JoongAng Media Network Chairman and CEO Hong Seok-hyun and French Ambassador to Korea Philippe Bertoux, who officiated the ceremony on behalf of the French president Emmanuel Macron. The Legion d'Honneur Officier is France's highest order of merit and is awarded to individuals, regardless of nationality, who have made significant contributions to the country's global reputation in fields such as culture, politics, economics, science, arts, and more. Choi's work in cultural diplomacy has been recognized for playing a pivotal role in deepening ties between Korea and France. Since 2015, she has served as the founding member and Secretary General of the Korea-France Club, a key body in bilateral relations. She also co-founded Forum, an international academic journal published in partnership with Sorbonne Nouvelle University and supported by UNESCO. Previously, she also helmed the French edition of Koreana, a cultural magazine published by the Korea Foundation. In recent years, Choi has expanded her cultural advocacy into digital platforms. Since 2020, she has run a YouTube channel spotlighting Korean and global cultures, with a special emphasis on French heritage. Her videos explore topics ranging from the legacy of Michelin to in-depth interviews with major French figures such as economist Jacques Attali and architect Jean-Louis Cohen. In 2003, Choi became the first Korean woman to receive the Legion d'Honneur Chevalier. At the awards ceremony, Choi reflected on the significance the medal holds for her, saying it holds "deep meaning" and that she will "regard this honor as encouragement to continue fostering the Korea-France relationship moving forward." "What's important is not the destination but the journey. Along that journey, I met many of you who are dear to me, experienced diverse cultures, and discovered the meaning of my life," she said. "As Antoine de Saint-Exupery wrote in 'The Little Prince,' 'One sees clearly only with the heart. What is essential is invisible to the eye.' In the same spirit, I have always aspired to be a bridge — the glue that connects hearts with hearts, cultures with cultures," said Choi, adding, "Connecting Korea and France continues to enrich my life, and it is through this connection that I am able to share meaningful relationships with all of you here today." Choi serves as Professor Emeritus at Hankuk University of Foreign Studies after serving 30 years at HUFS. She holds a bachelor's degree in French there. She also made history as the first Asian to earn a Ph.D. in Interpretation and Translation Studies from the Ecole Superieure d'Interpretes et de Traducteurs (ESIT), Paris University III. She later taught at ESIT before returning to Korea in 1987. Choi also currently serves as the president of Corea Image Communication, which hosts the annual Korea Image Awards, an event celebrating cultural figures who have significantly contributed to Korea's global standing. Honorees have included former UN Secretary-General Ban Ki-moon, pianist Cho Seong-jin, soprano Sumi Jo, actress Tang Wei, "Squid Game" star Lee Jung-jae and chef Edward Lee.
Korea Herald
23-03-2025
- Business
- Korea Herald
Korea's rise in 'used-new hires' shows experience is the new entry-level
A record 82 percent of Korean companies rank prior experience as top entry-level qualifier In a telling sign of how much South Korea's job market has changed, more and more 'new hires' are not new at all. Facing a tough economy and limited hiring budgets, Korean companies are increasingly filling entry-level positions with people who already have full-time work experience. Locally, the trend is referred to as "jung-go shin-ip" — which translates to 'used-new hire' — an ironic term that captures the awkward truth: to get hired as a 'new' employee, it helps to have already been one. By definition, new-hire recruitment is supposed to target first-time job seekers — typically recent graduates without full-time experience. But that definition is now being rewritten. According to a recent survey conducted by the Korea Enterprises Federation, a record 81.6 percent of Korean employers in 2025 said 'prior job-related experience' is the most important factor when hiring for entry-level positions. That is up from 58.4 percent just two years ago. As of 2023, data from KEF showed about one in four newly hired university graduates (25.7 percent) had already held full-time jobs elsewhere. These were not interns or part-timers — they were career restarters entering through a door meant for first-timers. What's driving the shift is part business logic, part survival instinct. With a global economic slowdown, domestic uncertainty and heightened trade tensions under the second Trump administration in the US, Korean firms are playing it safe. Only 60.8 percent of large companies plan to hire new graduates this year — the lowest figure since 2022 and a steep 11-point drop over two years. Employers want entry-level employees who can contribute right away without the learning curve, and those who do not yet command higher salaries. Tech and manufacturing firms are leading the charge. SK hynix ran seven recruitment rounds last year, four of which specifically targeted applicants with two to four years of experience. Samsung Electronics lowered its minimum experience for 'experienced hires" from four years to two. Samsung Display last year launched a new 'Future Elite' track to attract workers with two to ten years of experience under their belt. For young workers, especially those with short stints in less promising jobs, starting over can be a strategic move — especially if it means getting into high-growth sectors like AI or semiconductors. Many no longer expect lifetime employment and are willing to take a temporary step backward to move ahead. But such changes are making life harder for those who truly are new — fresh graduates with no full-time experience. The path designed for them is now crowded with people who've already walked it once. Even engineering majors, long seen as more employable in Korea's competitive job market, are feeling the squeeze. The economic outlook is adding more pressure. Nearly 97 percent of firms surveyed by KEF expect worsening economic conditions this year, and nearly one in four fear a crisis worse than the 1997 Asian financial crash. In response, many student job seekers are racing to build experience before they graduate. Programs like Samsung's SSAFY (Samsung Software Academy for Youth), which offers 1,600 hours of intensive training, boast an 84 percent job placement rate. LG's Aimers program trains AI specialists using real company data. SK Hynix's HY-Po initiative gives hands-on experience in semiconductor roles.
Korea Herald
10-03-2025
- Business
- Korea Herald
Korea's economic freedom ranking falls, labor market scores lowest
South Korea's overall economic freedom ranking fell to 17th from 14th in this year's Heritage Foundation Index of Economic Freedom, with its lowest score in the labor market category, where it ranked 100th. According to the Korea Enterprises Federation on Monday, the 2025 Index of Economic Freedom, published by the conservative US think tank the Heritage Foundation, gave South Korea an overall score of 74 out of 100 — an increase from 73.1 the previous year. However, the country dropped three spots to 17th among 184 economies in the global ranking. Among 40 Asia-Pacific nations, it placed fifth, after Singapore, Taiwan, Australia and New Zealand. The annual report assesses economic freedom using 12 indicators across four broad areas: rule of law, regulatory efficiency, government size and open markets. Countries are then categorized into five levels: free, mostly free, moderately free, mostly unfree and repressed. The labor market received the lowest score at 56.4, followed by taxation at 59.6, placing both categories in the mostly unfree classification. The labor market ranking dropped 13 spots from 87th last year to 100th this year. Compared to the Group of Seven (G7) countries, Korea's score was higher than Germany's (53.3) but lagged behind other nations, including the United States (77.0), Italy (70.7), Canada (69.4), Japan (67.8), Britain (63.2) and France (60.2). 'The country's economic dynamism will inevitably be affected by the outcome of the current political turmoil,' the report stated, while noting that South Korea's economy has yet remained resilient, driven by a competitive private sector. The KEF attributed South Korea's low score on the labor market to its rigidity, warning that it weakens economic competitiveness, calling for labor regulation reforms and improvements in labor-management relations.
Korea Herald
24-02-2025
- Business
- Korea Herald
KEF publishes English booklet on Korea's business environment for overseas institutions
The Korea Enterprises Federation on Monday said it published an English booklet on Korea's business environment and labor market and distributed it to over 250 think tanks and key organizations around the world. The business lobby's publication, titled '2025 Business Environment and Labor Market in Korea,' covers policies, legislation and the latest research and statistics on topics such as minimum wage, industrial transformation and labor market reforms. The handbook is aimed at helping international organizations, foreign business organizations and multinational corporations better understand Korea's business landscape. The publication is sent to 250 institutions around the world, including international organizations such as the OECD and International Labor Organization. It was also distributed to major foreign business groups, including the US Council for International Business, Japan Business Federation, China International Council for the Promotion of Multinational Corporations, BusinessEurope, and the Confederation of British Industry, among others. Other recipients include major think tanks, such as the World Economic Forum, the International Institute for Management Development, The Heritage Foundation and the Center for Strategic and International Studies. KEF Chairman Sohn Kyung-shik, who also heads CJ Group, sent a letter with the booklet, expressing hope that the publication would enhance understanding of Korea's business and labor environment and encourage continued active business activities and investment in the country. Earlier in January, Sohn also sent letters to key international organizations, including the ILO, the IOE and The Heritage Foundation, explaining Korea's political situation and calling for continued support and confidence in the Korean economy and corporations.
Korea Herald
24-02-2025
- Business
- Korea Herald
KEF releases annual English handbook on S. Korean business environment
The Korea Enterprises Federation said Monday it has released an annual English handbook on South Korea's latest business and labor market environment. The KEF said the handbook, titled 2025 Business Environment and Labor Market in Korea, was produced to help international organizations and foreign companies better understand the latest key topics and environments pertaining to research and investment in the country. The business lobby has sent the handbook to some 250 organizations, including the Organization for Economic Cooperation and Development and the International Labour Organization, as well as overseas think tanks and companies. KEF Chairman Sohn Kyung-shik said in a letter sent with the handbook that he hopes the book enhances understanding of South Korea's business environment and labor market, while encouraging continued engagement and investment in the country. (Yonhap)
