TITLE

A Social 'Time Bomb'

AUTHOR(S)
Lee, B. J.
PUB. DATE
January 2006
SOURCE
Newsweek (Atlantic Edition);1/23/2006 (Atlantic Edition), Vol. 147 Issue 4, p30
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses major labor-market changes that led to income inequality in South Korea. There are indications that poverty and homelessness are increasing and the middle class is shrinking. Economists are concerned about the trends in income disparity and unemployment. Neoliberal market reforms in the late 1990s are blamed for the widening gap between the "haves" and "have-nots". The International Monetary Fund told Korea to loosen up its labor market. President Roh Moo Hyun and the Uri Party have not been able to fix the problem and are increasing welfare spending.
ACCESSION #
19508735

 

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