According to the National Statistical Office on March 15, the number of the unemployed stood at 1.35 million last month, up by 33,000 from a year ago. This figure was the highest since August 1999 (1,364,000).
The nation's unemployment rate reached 5.0 percent last month, up by 0.1 percentage point from a year before, the highest since January 2010 (5.0%).
In particular, the unemployment rate of young people aged from 15 to 29, reached 12.3 percent, down by 0.2 percentage point from a year before (12.5%) but the second highest in history.
The increase in the unemployment rate was primarily due to the decline in the number of manufacturing jobs. The number of people hired by the manufacturing sector stood at 4,449,000 last month, down by 92,000 from a year earlier. The number of those hired by the manufacturing sector has been on a downward trend since July 2016.
HI Investment & Securities Co. Ltd., an affiliate of South Korean shipbuilder Hyundai Heavy Industries Co. Ltd., has established an offshore aircraft leasing company to buy two used Boeing 777-300ER aircraft from a Chinese leasing firm for $209 million, jointly&hellip
ING Life Insurance Korea Ltd. sees core office buildings and infrastructure in the US and Europe remaining as attractive targets even in the periods of interest rate rises, with asset price gains likely to be offset by rent increases, said&hellip
South Korean investment firms, which have recently snapped up prime office buildings and warehouses in the US and Europe, are struggling to raise capital from domestic institutional investors, under increasing pressure to abandon the deals or tap retail investors. JB&hellip