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.
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
(Corrected: New overseas alternative head Young-shin Chung was not promoted from the position of domestic alternative investment head, but moved to the new position. First paragraph was corrected in that regard.) The Korea Teachers’ Pension on April 24 named its domestic&hellip
Four South Korean institutional investors will acquire 100 billion won ($88 million) worth of senior debts secured on two US gas-fired power plants from CIT Bank, in a rare secondary debt investment for domestic investors. The unidentified Korean institutions, including insurance&hellip