SEOUL, Oct. 21 (Korea Bizwire) — Young South Korean workers have borne the brunt of the fallout from the coronavirus outbreak that first struck Asia’s fourth-largest economy in late January, data showed Wednesday. The number of employed South Koreans began to dwindle in March in the wake of the outbreak of COVID-19 as the flu-like [...]
SEOUL, Oct. 7 (Korea Bizwire) – Technological progress has mainly affected young job seekers in South Korea because businesses tend to cut down on hiring first when seeking cost-saving measures, a report said Sunday. The report — the work of three authors, including Lee Seo-hyun from the Bank of Korea (BOK) — said technological advancement [...]
SEOUL, Jul. 22 (Korea Bizwire) — On July 20, figures released from a report by Statistics Korea revealed that the number of unemployed youth between the ages of 15 and 29 was 1.47 million as of May of this year, with the tally in some cases resulting from a failure to find work after graduation [...]
SEOUL, Feb. 13 (Korea Bizwire) – Korea’s youth unemployment rate is skyrocketing to unprecedented levels, and the unemployment rate for workers between the ages of 15 to 24 has surpassed that of the U.S. for the first time in 16 years. Even amidst the global economic recession, youth unemployment in most advanced countries has partially [...]
SEOUL, Sept. 30 (Korea Bizwire) — A youth employment fund proposed by President Park Geun-hye drew 1.92 billion won (US$1.62 million) from about 50,000 people in the first five days after its creation on Sept. 21, the presidential office said Wednesday. Park proposed to establish a private fund that helps create jobs for young people [...]