South Korea's deepening youth unemployment crisis

The Korea Herald recently reported that 410,000 young people in their 20s were unemployed in South Korea, up from 330,000 in 2013, and a 15-year high. This deepening societal crisis should come as little surprise to those familiar with changes in the post-1997 Korean labour market. Following the Asian financial crisis of 199798, the International Monetary Fund bailout package called for the restructuring of South Koreas economy on top of work that had been ongoing throughout the 1990s.