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Development Strategies and Unemployment Policies in Korea

In: Transforming the Developmental Welfare State in East Asia

Author

Listed:
  • Ilcheong Yi
  • Byung-hee Lee

Abstract

The Asian Financial Crisis of 1997⤓l8 made a significant impact on Korean society. As the Korean economy recorded negative growth, mass unemployment (which reached an unprecedented high point of 8.8 per cent in February 1999) became a major social problem. The newly elected Kim Dae-jung government (1998–2003) responded to the mass unemployment with a strong social policy initiative. The swift expansion of the Employment Insurance Programme (EIP) and the establishment of the Minimum Living Standard Guarantee (MLSG), in particular, were part of this initiative, reflecting a new direction in the development of social welfare, in terms of both income compensation and social right (Kuhnle 2002).

Suggested Citation

  • Ilcheong Yi & Byung-hee Lee, 2005. "Development Strategies and Unemployment Policies in Korea," Social Policy in a Development Context, in: Huck-ju Kwon (ed.), Transforming the Developmental Welfare State in East Asia, chapter 6, pages 143-169, Palgrave Macmillan.
    • Handle: RePEc:pal:sopchp:978-0-230-52366-1_7
    DOI: 10.1057/9780230523661_7
    as

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