Korea wrestles with rising unemployment payouts, fraud

Many countries are facing mounting challenges in maintaining a robust labor force, particularly for workers who have faced multiple layoffs or other employment issues. Korea is no exception. Since 1995, the country has operated an unemployment benefits system that provides up to 60 percent of a worker's average wages from their final three months of employment. The system offers temporary financial support and facilitates the transition back into the workforce. For 33-year-old Choi, the benefits came at a critical time. After his employer delayed paying wages for months, he quit and began looking for other opportunities. During that period, unemployment benefits proved to be essential, providing roughly 2 million won ($1,378) per month for six months. "The benefits allowed me to take my time and prepare carefully for my next move," he said. But the cost of that safety net is swelling. Payouts are reaching record levels as Korea contends with a sluggish job market, exacerbated by a prolonged economic downturn and a rapidly aging population. Unemployment benefits disbursed in September totaWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times