While overall production of the manufacturing industry has contracted due to the COVID-19 pandemic, total employment levels have not undergone a major adjustment.Unlike the service industry, which saw an immediate reduction in employment, the manufacturing industry has more-or-less maintained...

The youth unemployment rate in Korea stood at eight percent as of 2021. The expanded youth unemployment rate, however, reached 23 percent in that same year, indicating that at least one in every four or five young persons in Korea was struggling to find suitable work. Although the unemployment...

In modern societies, employment has not only economic functions, such as income creation, but also social functions, such as alleviating inequality or enhancing social stability (high unemployment threatens social stability). Since utilities stemming from the social functions of employment...

The purpose of the minimum wage is to stabilize a worker’s life and improve the quality of the labor force by guaranteeing a minimum level of wages, thereby contributing to the sound development of the national economy (MINIMUM WAGE ACT.)The Minimum Wage Council (MWC) consists of 27 members...

This paper discusses the idea of applying an artificial trading market approach, commonly used in environmental policy, to employment policy as a means of creating jobs more effectively. Artificial market approaches, as exemplified by the emission permits trading system, theoretically represent...

South Korea has been one of the thinnest countries in the world. According to the World Factbook (CIA, 2014), the obesity rate of South Korea (7.7%) was ranked 139th out of 191 countries in 2008. Upon growing familiarity with westernized cultures, the obesity percentage for the overall South...

One of the distinctive features of national employment is that net increases in employment are concentrated in the Capital area. From 2005 to 2011, about 77.1% of the total increase in employment occurred in Seoul, Gyeonggi and Incheon. The percentage for these capital areas had stood at about...

Korea had one of the fastest growing economies in the world from the onset of industrialization in the early 1960s to the late 1990s. Korea’s economic development in those years had been based on industrialization that emphasized manufacturing rather than service industries. However, the...

Global Value Chains (GVCs) are known to have a skill-biased effect on the wage structure in developed countries. If the skill groups are divided into two – high-skilled vs low-skilled groups – then the direction of the skill-biased effect is clear in the existing literature. Many studies...

The development of technology improves the efficiency of the production process and increases the competitiveness of the commodity produced in general. Considering an open economy, technology raises a price and a quality competitiveness of domestic goods in the international market. Therefore,...