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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 [...]

Half of S. Koreans Feel Relatively Deprived Due to ‘Incompetent’ Parents

Half of S. Koreans Feel Relatively Deprived Due to ‘Incompetent’ Parents

SEOUL, Sept. 17 (Korea Bizwire) — One in two adults feels relatively deprived that other parents are involved in their child’s success in society. Saramin, a South Korean job search platform, conducted a survey of 3,289 adults, 52.5 percent of whom responded that they felt relatively deprived because of how other parents exercised influence on [...]

2 in 5 Millennial Job Seekers Would Accept Part-time Work, Study Shows

2 in 5 Millennial Job Seekers Would Accept Part-time Work, Study Shows

SEOUL, Jan. 16 (Korea Bizwire) — Two out of five South Koreans in their 20s and 30s said they wouldn’t mind working as a part-timer. Job Korea and Albamon, South Korea’s top two job search portals, conducted a survey on 1,200 people born between 1982 and 2000, asking them about their preference for full-time or [...]