A third of South Korea's firms may layoff workers if the economy does not significantly recover from the pandemic, based on a poll conducted by the Korea Economic Research Institute.
Out of the 120 companies surveyed, 30 percent said that they would not be able to sustain the current level of employment if the pandemic does not ease down over the next six months.
On the other hand, 22.5 percent of the respondents said they could tackle liquidity woes.
Another 20 percent intends to implement forced leaves, while 17 percent would cut benefits and bonuses.
In March, South Korea reported its first on-year job loss since 2009 due to the pandemic.
In March, South Korea lost about 195,000 jobs, the sharpest decline since it lost 240,000 in May 2009. It was also the first time the country reported an on-year job loss since 2009.
The survey participants want lower barriers for the subsidy program to help local companies save jobs, and for the minimum wage to be frozen.
South Korea has been raised the minimum wage by 10.9 percent in 2019 and 16.4 percent in 2018.


Asian Markets Slip as Precious Metals Cool, Geopolitical Tensions Weigh on Sentiment
U.S. Dollar Starts 2026 Weak as Yen, Euro and Sterling Hold Firm Amid Rate Cut Expectations
Wall Street Ends Mixed as Tech and Financial Stocks Weigh on Markets Amid Thin Holiday Trading
Asian Markets End Year on AI Optimism as Precious Metals and Currencies Shine
China Imposes 55% Tariff on Beef Imports Above Quota to Protect Domestic Industry
Asia Manufacturing PMI Rebounds as Exports and Tech Demand Drive Growth into 2026
Japanese Business Leaders Urge Government Action as Weak Yen Strains Economy
U.S. Stock Index Futures Steady as Markets Await Fed Policy Clues in Holiday-Thinned Trade
Oil Prices Slip Slightly as Markets Weigh Geopolitical Risks and Supply Glut Concerns
Singapore GDP Growth Surges in 2025 but Outlook Remains Cautious Amid Global Trade Risks
U.S. Dollar Slides Toward Biggest Annual Loss Since 2017 as 2026 Risks Loom
Forex Markets Hold Steady as Traders Await Fed Minutes Amid Thin Year-End Volumes
South Korea Exports Hit Record High as Global Trade Momentum Builds
USDA $12 Billion Farm Aid Program Draws Mixed Reactions from Row Crop Farmers
Federal Reserve Begins Treasury Bill Purchases to Stabilize Reserves and Money Markets
South Korean Won Slides Despite Government Efforts to Stabilize Currency Markets 



