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South Korea
Intelligence for Better Decision Making
Increase in youth and those in their 40s taking side jobs
April 30, 2024 | Indirect Indicator- In the first quarter of the current year, the number of employed people with side jobs increased by 101,000 compared to the previous year to reach 552,000.
- The increase in side jobbers is particularly noticeable among young people and those in their 40s, with a rise of 30.9% and 27.7% respectively from the previous year.
- The proportion of side hustlers among the total employed population has risen from 1.34% in 2019's first quarter to nearly 2% at present.
- The rise in side jobs may be linked to platform jobs like delivery riders and other flexible jobs in the information and communication industry.
- The level of income improvement for side jobbers has been minimal, with the average monthly income of multiple job workers only slightly higher than that of single-job workers.
- Side jobbers have poor working conditions with lower rates of subscription to national pension or employment insurance.
- According to Kim Gwang-seok from the Korea Economic and Industrial Research Institute, the rise in involuntary side hustling may be a result of a lack of quality jobs.
- The average working hours for side job workers, numbering 54.6 hours per week, raises concerns about potential labor law violations as they exceed the maximum allowed by the Labor Standards Act.
- There is an increasing trend in the number of individuals with side jobs according to the monthly average status over the past three years.
Interaction between Yoon and opposition leader
April 30, 2024 | Indirect Indicator- In their first-ever meeting, President Yoon Suk Yeol and opposition leader Lee Jae-myung will discuss politics and government affairs without a fixed agenda.
- The Democratic Party, after winning the recent parliamentary elections, is now controlling the National Assembly, forcing President Yoon to work with an opposition-controlled National Assembly for the remainder of his term.
- Both parties plan to focus on improving people's livelihoods. In particular, the Democratic Party plans to push for the implementation of a cash handout pledge and demand an investigation into a Marine's death and stock price manipulation allegations involving first lady Kim Keon Hee.
- Opposition leader Lee Jae-myung requested President Yoon agree to provide cash handouts, accept a special probe into suspicions surrounding a Marine's death, and address allegations surrounding his family. Lee also promised cooperation on government's medical reform plans.
- Lee Jae-myung urged President Yoon to support the Democratic Party's plans like a nationwide subsidy program and to refrain from using veto power to reject policies proposed by the opposition. He stressed the public's desire for competent governance, fair treatment under the law, and focus on collaboration.
- Lee highlighted the benefit of proposed local vouchers worth $180 to every citizen and also raised the need for an apology from President Yoon for vetoing crucial Assembly-passed bills.
- Furthermore, Lee called for a reconsideration of President Yoon's diplomatic approach, promoting peace talks on the Korean Peninsula over alignment with the U.S. President Yoon did not respond directly to these demands but appreciated Lee's remarks.
- The briefing emphasizes the importance of effective cooperation between the ruling party and the opposition for competent governance, despite the contentious nature of the presented policy issues.
Monitored Intelligence for South Korea - Jan. 29, 2024
News
Media
280
Government
Releases
7
City/State
Releases
0
Embassy
Releases
1
Foreign
Service
Advisories
0
Service
Advisories
0
Academic/
Think
Tank
0
Think
Tank
0
Podcasts
0
Videos
0
Social
Media
0
Business
Releases
0
Erudite Risk takes an all risks approach to intelligence reporting. We categorize key intelligence into one of 40 different risk intelligence categories.
The goal is to provide intelligence that allows decision makers to avoid being blindsided by what they may have missed, while informing them to make better decisions as well.
Risk Categories Reported on Today
Risk Category
Items Reported On
Crime
4
Accidents
3
Geopolitical Conflict and Disputes
12
North Korea
8
Terrorism
1
Political Scandal or Corruption
2
Cyber Attacks and Data Loss
2
Erudite Risk also includes operations categories so you can monitor the environment for better decision making. Everything is tied together--what happens in risk affects operations and what happens in the market impacts risk profiles.
We categorize key intelligence into one of 30 different operations intelligence categories.
Different roles and functions within the organization can monitor different key issue areas. HR may monitor employment, wages, regulations, labor and management relations, etc., while P&L leaders may monitor overall developing trends.
Operations Categories Reported on Today
Operations Category
Items Reported On
Demographics
4
Tech Development/Adoption
6
Trade Issues and Numbers
3
Politics and Elections
3
Political Policy Resistance
1
Bizdev-Partnering
6
Real Estate
3
여야 '3년 협치' 운명 걸렸다…尹∙이재명 오늘 영수회담
The ruling and opposition parties' '3-year cooperation' is doomed... Yeon-Jae-Myung Lee’s meeting today
Joongang Ilbo | Local Language | News | April 30, 2024 | Politics and Elections
President Yoon Seok-yeol and Democratic Party leader Lee Jae-myeong will meet in a '4+4' format with three staff members from each side attending at the Presidential Office in Seoul to discuss various issues, including economic solutions and controversial bills. The meeting is seen as a significant step towards cooperation between the ruling and opposition parties. The outcome of the meeting could set the tone for the remaining three years of Yoon Seok-yeol's administration. There are hopes for regular bilateral meetings in the future.
(LEAD) SK Innovation's Q1 net loss widens on FX losses
Yonhap | English | News | April 30, 2024 | Operating Results
SK Innovation, South Korea's leading refiner by sales, reported a widened net loss in the first quarter of the year due to foreign-exchange losses. The company's net losses increased to 97.62 billion won from 51.95 billion won in the previous year. A weak won and decreased equity gains from its car battery unit SK On were cited as contributing factors. Despite this, operating profit saw a 67 percent jump, thanks to strong refining margins and high oil prices. Sales, however, fell by 1.5 percent. In response to slowing car battery sales, SK Innovation plans to adjust output volumes in its global facilities in the coming quarters.
미-중 보복·맞보복 격화땐…“한국 ‘이 업종’ 타격 가장 우려”
When retaliation and counter-retaliation between the US and China intensify... “We are most concerned about the impact of ‘this industry’ in Korea”
Maekyung | Local Language | News | April 30, 2024 | Geopolitical Conflict and Disputes
The intensification of retaliation and counter-retaliation between the US and China is causing concern in Korea, especially in industries like steel and aluminum. The threat of oversupply and global tariff barriers is expected to have a significant impact on Korean companies heavily reliant on overseas sales. Furthermore, high-tech industries such as semiconductors and electric vehicles are also at risk of damage due to the escalating trade dispute.
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