S Korea’s state benefit for jobless hits record high

11th June, 2019 09:32:13 printer

SEOUL: South Korea's state benefit for the unemployed and job-seekers hit a record high in May on an increased benefit and the higher number of beneficiaries, a government report showed Tuesday.

The state allowances paid to those who were unemployed or were seeking a job amounted to a new monthly high of 758.7 billion won (642 million U.S. dollars) in May, up 24.7 percent from a year earlier, according to the Ministry of Employment and Labor, reports Xinhua.

The record-breaking trend continued for three straight months as the government raised the number of beneficiaries and increased the benefit amount in a bid to expand the social safety net.

The number of beneficiaries was 503,000 in May, up 12.1 percent from a year earlier.