Unemployment, credit delinquents, housing rents, college feesthese are some of the major problems for echo-boomers.
So who are the echo-boomers[Interview : Hong Ju-won, Account Executive
Saatchi & Saatchi, PCI] "I am one of the echo-boomers and it was so hard for me to get a job since we went through the 2008 global financial crisis, and I know a lot of friends who are still struggling to get a job".
According to the Hyundai Research Institute, although most echo-boomers have received the best education in Korea's historymany are going through hardships to find employment.
[Interview : Park Deog-bae, Research Fellow
Hyundai Research Institute] "Although echo-boomers have high academic backgrounds, the number of jobs offered and demanded do not match in Korea's job market".
Before the global financial crisis in 2008, the employment rate of college graduates were 60-percent in 2007 but in 2010 the employment rate of college graduates sharply fell to 45-percent.
Employment for students with masters degrees also dropped by 10-percent between 2007 and 2010.
As unemployment rate increases it has become hard for students to pay back their college tutition loans.
In 2005 around 180-thousand students sought college loans but the number jumped to more than 1-million in 2011.
And more than 30-thousand people are undertaking the risk of becoming credit delinquents.
[Reporter : Ji Myung-kil
email@example.com] "More and more Korean echo-boomers are finding it difficult to find a house to live in, pay back their college fees and even get married. And experts say the only way in solving this problem is creating more jobs".
Ji Myung-kil, Arirang News.
Reporter : firstname.lastname@example.org
Source : www.arirang.co.kr/New...
- Stay on topic and do not spam.
- Post only in English, as this is an English language community.
- Do not request or mention illegal download/streaming services.
- Do not post sexist, racist, homophobic or other hateful and discriminatory content.
- Refrain from abusive language.
- No graphic content allowed.
- Respect the right of other users to share their opinion. Arguments are welcome, fights are not.
Comments which break the rules will be moderated or erased. Repeated rule breaking will result in warnings followed by blacklisting upon non-compliance.
Protecting our Marine Places: A Shared Korea-US Vision for Conservation and Expo 2012 Yeosu Korea
Summary The Republic of Korea and the United States have a rich history of cooperation on environ,...More
Philippine envoy celebrates multiculturalism in Korea
Philippine Ambassador Luis Cruz, right, poses for a photo with Rep. Jasmine Lee of the ruling Saen,...More
Subscribe to HanCinema Pure to remove ads from the website (not for episode and movie videos) for US$2.99 per month (you can cancel anytime).
The first step is to be a member, please click here : Sign up, then a subscribe button will show up.