SEOUL, Feb. 27 (Korea Bizwire) — Over 60 percent of large corporations have no plans for hiring new employees or are undecided on hiring in the first half, a poll showed Thursday. According to the survey conducted by Research & Research from Feb. 4-13 on the country’s top 500 companies by sales, 61.1 percent said [...]
SEOUL, Feb. 24 (Korea Bizwire) — As South Korea’s youth unemployment crisis deepens to levels worse than those seen during the IMF crisis and COVID-19 pandemic, local governments across the nation are stepping in with innovative support measures ranging from free interview suits to office rental subsidies. According to Statistics Korea, January saw the sharpest deterioration [...]
SEOUL, Oct. 2 (Korea Bizwire) – One in five unemployed South Koreans has been out of work for more than six months, according to recent government data, marking the highest level of long-term unemployment since the aftermath of the 1997-98 Asian financial crisis. Statistics Korea reported that as of August, the number of long-term unemployed individuals [...]
SEJONG, Jul. 22 (Korea Bizwire) – In a troubling trend for South Korea’s labor market, the number of college graduates neither employed nor seeking work has surpassed 4 million in the first half of 2024, reaching an all-time high despite government efforts to boost economic participation. According to data from Statistics Korea’s national statistics portal, an [...]
SEOUL, Jul. 17 (Korea Bizwire) – For the first time in 18 years, private sector jobs have surpassed government positions as the most sought-after career path among South Korean youth, according to a new government report. The shift comes as young job seekers face increasingly lengthy periods of unemployment, with the average time to secure a [...]
SEOUL, Jun. 12 (Korea Bizwire) — South Korea reported the slowest on-year job growth in more than three years in May and the unemployment rate among young people reported a marked growth, data showed Wednesday. The number of employed people came to 28.92 million last month, up 80,000 from a year earlier, according to the [...]
SEOUL, Mar. 11 (Korea Bizwire) – A recent study has highlighted the correlation between worsening economic conditions and higher suicide rates, emphasizing the significant impact of a 1% decrease in the employment rate on youth suicide fatalities, which rise by 1.7%. Conducted by the Korea Labor Institute, the research, titled “Economic Shocks and Suicide,” explores the [...]
SEOUL, Jan. 18 (Korea Bizwire) — About 1 in 20 young people in Seoul live in isolation or seclusion from society due mainly to difficulties in finding a job or mental problems, a survey by the city government showed Wednesday. An estimated 4.5 percent, or about 129,000, of Seoul residents aged between 19-39 were surveyed [...]
SEOUL, Sept. 16 (Korea Bizwire) — South Korea’s unemployment rate hit an all-time low last month, but the pace of job growth slowed down for the third month in a row amid economic uncertainties, data showed Friday. The number of employed people stood at 28.41 million in August, up 807,000 from a year earlier, according [...]
SEOUL, April 3 (Korea Bizwire) — Non-regular workers have been hit harder by the economic fallout from the new coronavirus pandemic than regular workers, a survey showed Saturday. In a survey on 1,000 salaried workers aged 19 or above conducted from March 17-23 by pollster Embrain Public, 18.6 percent said they experienced unemployment since COVID-19 [...]