{"id":2201681,"date":"2023-07-13T08:00:48","date_gmt":"2023-07-12T23:00:48","guid":{"rendered":"https:\/\/koreapro.org\/?p=2201681"},"modified":"2023-07-12T18:22:07","modified_gmt":"2023-07-12T09:22:07","slug":"ruling-party-government-mulls-reducing-or-abolishing-unemployment-benefits","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2023\/07\/ruling-party-government-mulls-reducing-or-abolishing-unemployment-benefits\/","title":{"rendered":"Ruling party, government mulls reducing or abolishing unemployment benefits"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The ruling People Power Party (PPP), in collaboration with the South Korean government, is <\/span><a href=\"https:\/\/www.yna.co.kr\/view\/AKR20230712082651001?section=politics\/all&amp;site=major_news01\"><span style=\"font-weight: 400;\">examining<\/span><\/a><span style=\"font-weight: 400;\"> the potential of lowering or altogether abolishing minimum unemployment benefits, currently at <\/span><a href=\"https:\/\/minwon.moel.go.kr\/minwon2008\/lc_minwon\/lc_quick_internet_view.do?idx=202206280912081761000\"><span style=\"font-weight: 400;\">80%<\/span><\/a><span style=\"font-weight: 400;\"> of the nation\u2019s minimum wage. The PPP identified the current system, which leads to some working individuals earning less than those on unemployment benefits, as problematic. Measures under consideration include potentially reducing or eliminating unemployment benefits.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the same time, a <\/span><a href=\"https:\/\/www.fnnews.com\/news\/202305300946404950\"><span style=\"font-weight: 400;\">proposed amendment<\/span><\/a><span style=\"font-weight: 400;\"> to the Employment Insurance Act is under review. The amendment aims to eliminate unemployment benefits, replace them with extended individual benefits for low-income individuals and lengthen the insured period from 180 days to 10 months. The final plan, which could include additional proposals, is still being decided, with more opinions being sought.<\/span><\/p>\n<p><b>Why It Matters<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Potential changes to unemployment benefits, such as a reduction or complete elimination, could intensify income disparities and heighten financial instability, especially among unemployed individuals from low-income sectors. Despite South Korea\u2019s employment statistics for June <\/span><a href=\"https:\/\/en.yna.co.kr\/view\/AEN20230712001652320?section=search\"><span style=\"font-weight: 400;\">exceeding expectations<\/span><\/a><span style=\"font-weight: 400;\">, the figures were predominantly influenced by employment among senior citizens. There was a notable increase of 71,000 jobs for individuals in their 50s and 343,000 for those in their 60s. Conversely, employment among those in their 20s witnessed a decline of 103,000. As South Korea\u2019s population ages and shrinks, younger workers may experience adverse employment opportunities.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The proposed amendments could provoke criticism from various sectors, including the general public, labor unions and opposition parties. These groups might perceive the changes as an attack on workers\u2019 rights and social welfare. This issue becomes even more significant in light of the impending parliamentary elections in April. With the <\/span><a href=\"https:\/\/www.gallup.co.kr\/gallupdb\/reportContent.asp?seqNo=1403\"><span style=\"font-weight: 400;\">approval ratings<\/span><\/a><span style=\"font-weight: 400;\"> of the ruling and opposition parties being closely matched at 33% and 32%, respectively, this subject could serve as a crucial dispute between the two sides and influence public sentiment.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/domestic-politics\/\"><span class=\"tag\">Domestic Politics<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>The ruling People Power Party (PPP), in collaboration with the South Korean government, is examining the potential of lowering or altogether abolishing minimum unemployment benefits, currently at 80% of the nation\u2019s minimum wage. The PPP identified the current system, which leads to some working individuals earning less than those on unemployment benefits, as problematic. Measures [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2201682,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24,27],"class_list":["post-2201681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy","tag-domestic-politics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ruling party, government mulls reducing or abolishing unemployment benefits - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2023\/07\/ruling-party-government-mulls-reducing-or-abolishing-unemployment-benefits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ruling party, government mulls reducing or abolishing unemployment benefits - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"The ruling People Power Party (PPP), in collaboration with the South Korean government, is examining the potential of lowering or altogether abolishing minimum unemployment benefits, currently at 80% of the nation\u2019s minimum wage. The PPP identified the current system, which leads to some working individuals earning less than those on unemployment benefits, as problematic. Measures [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/koreapro.org\/2023\/07\/ruling-party-government-mulls-reducing-or-abolishing-unemployment-benefits\/\" \/>\n<meta property=\"og:site_name\" content=\"KOREA PRO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/nknewsorg\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-12T23:00:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-12T09:22:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/koreapro.org\/wp-content\/uploads\/sites\/6\/2023\/07\/pdc.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1870\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"johnleenknews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@southkoreapro\" \/>\n<meta name=\"twitter:site\" content=\"@southkoreapro\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"KOREA PRO\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/koreapro.org\/2023\/07\/ruling-party-government-mulls-reducing-or-abolishing-unemployment-benefits\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/koreapro.org\/2023\/07\/ruling-party-government-mulls-reducing-or-abolishing-unemployment-benefits\/\"},\"author\":{\"name\":\"johnleenknews\",\"@id\":\"https:\/\/koreapro.org\/#\/schema\/person\/b9766dba611638edc06a6e0b7078714d\"},\"headline\":\"Ruling party, government mulls reducing or abolishing unemployment benefits\",\"datePublished\":\"2023-07-12T23:00:48+00:00\",\"dateModified\":\"2023-07-12T09:22:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/koreapro.org\/2023\/07\/ruling-party-government-mulls-reducing-or-abolishing-unemployment-benefits\/\"},\"wordCount\":304,\"publisher\":{\"@id\":\"https:\/\/koreapro.org\/#organization\"},\"image\":{\"@id\":\"https:\/\/koreapro.org\/2023\/07\/ruling-party-government-mulls-reducing-or-abolishing-unemployment-benefits\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/07\/pdc.png\",\"keywords\":[\"Business &amp; Economy\",\"Domestic Politics\"],\"articleSection\":[\"Briefings\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/koreapro.org\/2023\/07\/ruling-party-government-mulls-reducing-or-abolishing-unemployment-benefits\/\",\"url\":\"https:\/\/koreapro.org\/2023\/07\/ruling-party-government-mulls-reducing-or-abolishing-unemployment-benefits\/\",\"name\":\"Ruling party, government mulls reducing or abolishing unemployment benefits - KOREA PRO\",\"isPartOf\":{\"@id\":\"https:\/\/koreapro.org\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/koreapro.org\/2023\/07\/ruling-party-government-mulls-reducing-or-abolishing-unemployment-benefits\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/koreapro.org\/2023\/07\/ruling-party-government-mulls-reducing-or-abolishing-unemployment-benefits\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/07\/pdc.png\",\"datePublished\":\"2023-07-12T23:00:48+00:00\",\"dateModified\":\"2023-07-12T09:22:07+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/koreapro.org\/2023\/07\/ruling-party-government-mulls-reducing-or-abolishing-unemployment-benefits\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/koreapro.org\/2023\/07\/ruling-party-government-mulls-reducing-or-abolishing-unemployment-benefits\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/koreapro.org\/2023\/07\/ruling-party-government-mulls-reducing-or-abolishing-unemployment-benefits\/#primaryimage\",\"url\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/07\/pdc.png\",\"contentUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/07\/pdc.png\",\"width\":1870,\"height\":1000},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/koreapro.org\/2023\/07\/ruling-party-government-mulls-reducing-or-abolishing-unemployment-benefits\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/koreapro.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ruling party, government mulls reducing or abolishing unemployment benefits\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/koreapro.org\/#website\",\"url\":\"https:\/\/koreapro.org\/\",\"name\":\"KOREA PRO\",\"description\":\"Be smart about South Korea. 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