Benchmark
Young and Old Koreans Suffer as Job Market Drives Inequality
Temporary jobs in two-tier labor market leave many far behind
Workers in a kimchi factory in South Korea.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
South Korea’s 3.6 unemployment rate, while enviable on the surface, masks a two-tier labor market that is fueling inequality and stirring anger and resentment.
No wonder then that South Korean President Moon Jae-in has emphasized jobs and wages during the recent election campaign and in his first month in office, describing pay and wealth disparities as obstacles to the creation of an "economic democracy."