Koreans beneath 40 now account for more than half of the country’s household debt, up from 35% two years ago. “It’s a structural dilemma, irrespective of which party is in power.” As a outcome, young folks are taking jobs they’re overqualified for, working aspect-time, or in temporary gigs, says Gibson. “The job competition is fierce, with a big number of extremely educated and certified candidates competing for a modest quantity of steady jobs,” she says. In addition to Seoul’s runaway property prices, expanding unemployment rates have fueled this generation’s discontent.
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