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BREAKING
Sirens are now sounding in Lotan, Ardanel Ranch, and Yahel
Sirens are sounding in Kibbutz Lotan, north of Eilat, on the border with Jordan, due to suspected drone infiltration
Israeli media: 2 settlers killed and 38 others injured after an Iranian missile struck the Rishon LeZion area, south of Tel Aviv
Israeli emergency service (Magen David Adom): 21 individuals injured in the latest rocket strike on Rishon LeZion in central region
Israeli media: 14 people injured after an Iranian rocket struck central "Israel"
Israeli emergency service (Magen David Adom): Several homes in the central region were hit by the latest Iranian rocket barrage, resulting in 9 injuries, including one in critical condition
Israeli media: Several buildings damaged by a rocket strike in the central region, with reports of people trapped
Israeli media: Several people are wounded and a number of homes are heavily damaged by the ballistic missile impact in central 'Israel'
Israeli media: Reports of casualties and damage in the central region as a result of the latest missile barrage from Iran
Israeli media: Iran launched three missile salvos toward "Israel" within 15 minutes

South Korea loses more than 10,000 workers in 3 months

  • By Al Mayadeen English
  • Source: Agencies
  • 20 Apr 2023 14:22
  • 1 Shares
2 Min Read

The loss of employees came through voluntary retirement amid an atmosphere of economic uncertainty Seoul is currently experiencing.

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  • S.Korean state lose more than 10,000 workers in 3 months
    Jobseekers look at retirement advertisements during the 2018 Job Fair in Seoul, South Korea, November 7, 2018. (Reuters)

The South Korean Ministry of Economy and Finance lowered the workforce at state enterprises by over 10,700 employees from January to March amid economic uncertainty, according to media reports citing the department on Thursday. 

State-owned enterprises also sold obsolete assets worth 1.4 trillion won ($1 billion) over the same time, accounting for 20.6% of the government's aim to get rid of 6.8 trillion won in assets by the end of the year, according to South Korean news agency Yonhap. 

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According to the data, state enterprises restructured their offices to lease vacant space, saving the government 4.7 billion won, while South Korean public enterprises expect to recruit 22,000 people this year. 

Read more: South Korea tries $500 allowance to help reclusive kids get out

South Korean Finance Minister Choo Kyung-ho stated in December 2022 that the country's government planned to resolve economic challenges by implementing a new growth strategy since it anticipated financial difficulties in 2023. The nation announced intentions to cut 4% of public-sector positions by 2025. 

Officials in Seoul declared in October that the country was in the midst of a complete economic crisis, with fears about a faltering economy lingering despite rising costs due to high inflation. As a countermeasure, they intended to provide 18.2 billion won in food discount vouchers by the end of 2022 to assist citizens in dealing with inflation.

  • Yonhap
  • Unemployment
  • Employment
  • Retirement
  • South Korea

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