COVID-19 could cause loss of 333,000 jobs

The COVID-19 might cause loss of 330,000 jobs in Korea, and this might require special attention by the government to prevent it from happening. This waring came from the Korea Economic Research Institute (KERI) on April 20, 2020.

KERI predicted that the Korean economy might face a reduction of 6.7 percent.

A KERI official said that the estimated figure, 330,000, compares with  28.2 percent of total employment in Korea as of March of this year.

KERI recommended to the government to provide additional benefits people out of job and try to offer soft loans to small-medium businesses.