Development Strategies and Unemployment Policies in Korea

Ilcheong Yi and Byung-hee Lee

Chapter 6 in Transforming the Developmental Welfare State in East Asia, 2005, pp 143-169 from Palgrave Macmillan

Abstract: Abstract The Asian Financial Crisis of 1997⤓l8 made a significant impact on Korean society. As the Korean economy recorded negative growth, mass unemployment (which reached an unprecedented high point of 8.8 per cent in February 1999) became a major social problem. The newly elected Kim Dae-jung government (1998–2003) responded to the mass unemployment with a strong social policy initiative. The swift expansion of the Employment Insurance Programme (EIP) and the establishment of the Minimum Living Standard Guarantee (MLSG), in particular, were part of this initiative, reflecting a new direction in the development of social welfare, in terms of both income compensation and social right (Kuhnle 2002).

Keywords: Labour Market; Vocational Training; Unemployment Benefit; Asian Financial Crisis; Active Labour Market Policy (search for similar items in EconPapers)
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:pal:sopchp:978-0-230-52366-1_7

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DOI: 10.1057/9780230523661_7

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