500,000 youngsters rest, 5.77m old people work; job polarization must be resolved

Last month, nearly 500,000 young people aged 15 to 29 gave up looking for a job. According to Statistics Korea, the population of young people choosing to be unemployed without looking for jobs increased to 497,000 in February, the largest number since related statistics were first compiled in January 2003. To make matters worse, youth employment shrank for four months in a row and the recent shrinkage was the biggest since February 2021. The overall employment situation was not positive, either

Ruling and opposition parties favor hike in deposit insurance limits after SVB collapse

It is fairly rare for rival parties in South Korea to agree on any single policy. Quite surprisingly, politicians from both the ruling and opposition parties have put forth the same proposal: a hike of deposit insurance limits. “South Korea needs a new deposit insurance limit suitable for its stature as a nation with expanding economic power,” Sung Il-jong, the top policymaker of the ruling People Power Party, said Tuesday. Sung said Korea should reconsider the current deposit insura