S. Korea's new president angers small firms he has vowed to help
Small businesses fear their survival is at stake if President Moon pushes ahead with plans to implement labour reforms
Seoul
SMALL businesses in South Korea fear their profits could be cut to the bone and some could be forced to close if the country's new president pushes ahead with plans to raise minimum wages, restrict contract staff numbers and reduce working hours.
Since his election earlier this month, President Moon Jae-in has made boosting job prospects for young South Koreans a signature policy, while also protecting workers' rights.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
China passes tariff law as tensions with trading partners simmer
Blinken meets Chinese counterpart Wang Yi in Beijing
South Korea’s public finances no longer a credit rating ‘strength’: Fitch
UK consumer confidence improves as inflation and taxes fall
Inflation in Japan’s capital falls below BOJ target, slows for second month