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Bill Making It Mandatory for Employers to Follow Up with Unsuccessful Job Candidates Faces Mixed Response

Bill Making It Mandatory for Employers to Follow Up with Unsuccessful Job Candidates Faces Mixed Response

SEOUL, May 28 (Korea Bizwire) — A bill to revise the Recruitment Procedure Act towards including a provision that requires employers to notify failed job candidates why they were rejected has been proposed in the National Assembly. The bill comes at a time in which many job seekers are raising voices about the need to [...]

Worries of ‘Lost Generation’ as Job Cliff Looms for Young Koreans

Worries of ‘Lost Generation’ as Job Cliff Looms for Young Koreans

SEOUL, Jan. 15 (Korea Bizwire) — Concerns are growing about South Korea’s young people who are facing the risk of falling into what some are calling a ‘lost generation,’ as the prospects of a so-called job cliff are deepening due to the COVID-19 pandemic. According to Statistics Korea, the annual jobless rate of young people [...]

Record 11.85 tln Won Paid in Unemployment Benefits in 2020 amid Pandemic

Record 11.85 tln Won Paid in Unemployment Benefits in 2020 amid Pandemic

SEOUL, Jan. 11 (Korea Bizwire) — A record 11.85 trillion won (US$10.79 billion) was paid in unemployment benefits last year amid the business challenges of COVID-19, government data showed Monday. According to the Ministry of Employment and Labor, the government paid more than 956 billion won in job-seeking benefits in December, bringing the yearly total [...]

Job Losses Extend into August amid Pandemic, Unemployment Rate Up to 3.1 pct

Job Losses Extend into August amid Pandemic, Unemployment Rate Up to 3.1 pct

SEJONG, Sept. 9 (Korea Bizwire) — South Korea lost about 274,000 jobs in August, marking a decline in the number of the employed for the sixth consecutive month, as the coronavirus pandemic hammered job markets, data showed Wednesday. The country’s jobless rate rose by 0.1 percentage point on-year to 3.1 percent in August, with the [...]