Unemployment insurance subscriptions increased 2.3 percent on year in March, according to the Ministry of Employment and Labor on Monday.
First it was the artists. Soon it will be the freelancers and the salesmen. And finally the self-employed. The weary workers in these lonely trades are getting employment insurance.
Unemployment benefits paid out by the government hit an all-time high in July, reaching nearly 1.2 trillion won ($1.01 billion). They benefit have been breaking records every month since February, when the coronavirus crisis hit Korea.
As unemployment numbers and jobless benefits continue setting new records in Korea, the government is moving closer to President Moon’s pledge to extend the safety net to all workers, with more than 75,000 artists on the cusp of becoming eligible.
Unemployment insurance for all is a once bold idea gaining widespread support, with an administration leader proposing it and suggesting that this level of coverage may make sense.
The ruling Democratic Party (DP) under the intoxication of its sweeping win in the April elections in which it secured it a supermajority with 180 seats in the 300-member National Assembly has been trotting out half-backed policy ideas.