The number of people employed by the manufacturing sector declined for three consecutive months starting from December 2016, primarily due to the restructuring of the shipbuilding industry.
According to the labor market trend for February 2017, issued on March 13 by the Ministry of Employment and Labor, the number of full-time regular workers hired by the manufacturing sector stood at 3,578,000, down 1.7 percent or 1,700 from a year ago.
The number of such people has declined for three straight months, falling by 0.4 percent in December and 1.1 percent in January. In particular, the employment situation for young people aged less than 29 has worsened. The number of young people employed by the manufacturing sector stood at 586,000 in February, down 17,000 from a year ago.
The number of people hired by the "other transport equipment manufacturing" sector which includes the shipbuilding industry, plunged by 37,000. Among them, 62.6 percent or 23,000 were young people aged less than 30.
South Korea’s National Pension Service (NPS), Public Officials Benefit Association (POBA) and Hyundai Marine & Fire Insurance Co. Ltd. are likely to commit $380 million to a blind-pool real estate fund which private equity firm Rockpoint Group is launching to&hellip
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