Human Resources in South Korea Essay Example | Topics and Well Written Essays - 1000 words

Human Resources in South Korea - Essay Example(Zimmermann and Sparrow, 2008)To start, operate and close a crease is well protected by South Koreas regulatory environment. Starting a business takes an average of 17 days compared to the worlds average of 43 days. Obtaining a license will take less than the worlds average of 19 procedures and 234 days. Closing a business is also easy. (Hesketh and Fleetwood, 2006)The investment climate is increasingly open. The government offers incentives such as cash grants and zero-corporate tax zones has a one-stop-shop for extraneous investments and assigns an official to facilitate each project. Residents and non-residents may have foreign exchange rate accounts. (Hesketh and Fleetwood, 2006)Trade, fiscal and labour freedoms are relatively weak. Monetary score is hurt by government subsidies of several sectors. Non-tariff barriers are very common. The labour market remains rigid despite the governments reason to enhance market flexibility in rec ent years. There are burdensome profession regulations that frustrate employment opportunities and productivity growth. The non-salary equal of employing a worker is low, but dismissing a redundant employee is costly. The high cost of laying off a worker creates a risk aversion for companies that would otherwise hire to a greater extent people and grow. Regulations related to the number of work hours are not flexible. (Zimmermann and Sparrow, 2008)The... For outsiders language barriers and tight social or business circles make the Korean labour market difficult to enter. Business relationships have traditionally been create upon personal ties and valuable introductions. The South Korea labour laws are mentioned belowForeign workers pursuant to the immigration find act, professional or skilled foreigners can be employed in Korea after being issued with visas in other particular occupations which include the hospitality and hotel industry (E-7) visa is issued. (Hesketh and Fleetw ood, 2006)General procedures the parties concerned sign an employment contract. A related minister makes a recommendation. The minister of Justice issues a visa issuance certificate. (Hesketh and Fleetwood, 2006) running(a) standards and welfare the labour standards act, which stipulates minimum working(a) standards for workers, covers all employees. However, some provisions (relating to employment contracts, restrictions on dismissal, working hours, leave, etc.) are not applied to work places with four workers or less given economic conditions and administrative capacity. (Hesketh and Fleetwood, 2006)Restrictions on dismissal employers cannot dismiss employees without justifiable causes. If dismissed without justifiable causes, an employee can apply for redress to a labour relations commission. Employers may be subject to punishment for unjustifiable dismissal. If an employer is to dismiss a worker, he or she should meet strict conditions and procedures. First, the employer should have urgent managerial reasons, make every effort to block such dismissals, select those to be dismissed by rational and fair standards and sincerely consult with the wiliness union or workers representatives in advance. Even when an