The Minute to Read (Weekdays) series provides a quick overview of significant events in Korea everyday, conveniently condensed into a one-minute read. Here’s a recap of what happened yesterday: Aug 21.
South Korea’s major firms see more older workers, fewer youth
South Korea’s major conglomerates are experiencing a demographic shift with an increasing number of older employees and a decline in younger workers, particularly in sectors like IT, electronics, and retail.
This trend is driven by an aging population and changes in corporate hiring practices, as companies shift from mass hiring of new graduates to more frequent recruitment of experienced professionals.
However, traditional heavy industries like automotive and shipbuilding are seeing a rejuvenation of their workforce, with an increase in younger employees due to retirements and the hiring of talent in emerging fields.
Startups and tech giants lead new era of Korea-Japan cooperation
The trade relationship between South Korea and Japan has significantly improved, with both countries restoring each other to their “white list” of preferential trading partners and signing a $10 billion currency swap agreement.
This revival has led to increased collaboration between Korean startups and Japanese companies, including cross-border ventures in second-hand goods trading, AI job matching, and hospitality management. Japanese tech giants are also investing heavily in Korea, establishing R&D centers and expanding production facilities.
Galaxy Z Fold 6 “Slim” to debut in South Korea on Sept. 25
Samsung Electronics is set to launch the Galaxy Z Fold 6 “Slim” in South Korea on Sept. 25, marking its thinnest foldable phone yet, with a thickness just over 10mm.
The device will feature larger displays, but will exclude S Pen support to achieve its slim profile, positioning Samsung to lead the emerging slim phone market against competitors like Apple and Chinese brands. The Galaxy Z Fold 6 Slim is expected to retail for around 2.8 million won (approximately $2,100).
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