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Free AccessPer Yonhap: "South Korea will provide...>
SOUTH KOREA: Per Yonhap: "South Korea will provide 1.5 trillion won (US$1.2
billion) in subsidies to temporary workers who lost their jobs due to the
coronavirus pandemic, Finance Minister Hong Nam-ki said Thursday. The move is
the government's latest measure to protect the nation's job market as the
pandemic is expected to force an economic contraction this year. Temporary or
freelance workers who lost their jobs will be eligible for the subsidies, and
they will receive a total of 1.5 million won each, Hong said. About 930,000
people who recently lost jobs will be eligible for the subsidies, Hong said. The
government has pledged to launch a "Korean-version New Deal" project to create
jobs and prepare for a post-COVID 19 economic recovery. Hong said the project
will include industrial sectors on data, 5G telecommunication and artificial
intelligence."
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.