Strategy research of economic policy to improve unemployment in COVID-19 pandemic

The COVID-19 pandemic has severely impacted the health, economic, and sense of well-being of many nations worldwide, drastically changing and disrupting the daily lives of everyone in all levels of society. In South Korea, in particular, the pandemic destabilized many businesses, crippled production and services delivery, and debilitated work flows on such a massive scale, leading to high levels of unemployment and production shutdowns rarely experienced by the country before. This prompted the South Korean government to come up with national policies to revitalize the country’s plunging levels of productivity by getting the nation’s executives, managers, professionals, and labour force back to work by coming out with massive emergency programmes to protect their health, safety, and fitness to work in the midst of the lingering pandemic. In this study that we hope will contribute to the effectiveness of the ongoing national stimulus measures, we conducted a formal evaluation of the initiatives, policies, and efforts undertaken by the South Korean government to reduce the national unemployment rate and spur productivity in the face of the COVID-19 pandemic.