South Korea proposes extra budget, bigger subsidies to address youth unemployment

SEOUL (March 15): South Korea said on Thursday it will propose a supplementary budget and boost business subsidies to help cut the country’s high youth unemployment, which it sees reaching a dangerous level.

Small- and medium-sized businesses will be eligible to receive 9 million won ($8,443.65) in annual cash subsidies for each entry-level job it creates over the next three years, up from current 6.7 million won.

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