South Korea's Ministry of Labor said on Monday that the cumulative unemployment benefits paid in the first 11 months of this year reached 11.47 trillion won, surpassing the previous record of 11.25 trillion won in the same period in 2021 when the unemployment rate was high due to the COVID-19 pandemic. The amount of payments for the whole year is expected to reach a record high. By the end of November, the ratio of the number of job vacancies to the number of job seekers in South Korea was 0.43, the lowest since November 1998 after the Asian financial crisis.

South Korea's Ministry of Labor said on Monday that the cumulative unemployment benefits paid in the first 11 months of this year reached 11.47 trillion won, surpassing the previous record of 11.25 trillion won in the same period in 2021 when the unemployment rate was high due to the COVID-19 pandemic. The amount of payments for the whole year is expected to reach a record high. By the end of November, the ratio of the number of job vacancies to the number of job seekers in South Korea was 0.43, the lowest since November 1998 after the Asian financial crisis.