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[Monitor] Korea‘s unemployment benefits ranks low

A recent report by the Korea Labor Institute showed that South Korea ranks among the lowest in terms of the period during which jobless workers get unemployment benefits.

Among the Organization for Economic Cooperation and Development members, jobless South Korean workers could receive unemployment benefits for a maximum seven months in 2010, the fifth shortest among 29 OECD members.

Korea offers unemployment allowances for three to eight months for eligible workers depending on their age and terms of their unemployment insurance policy. A shorter period of unemployment benefits indicate weaker social safety net for the labor market.
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