Virus-Sparked Pay Cuts Endured by 42% of S.Korean Workers

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Forty-two percent of South Korean workers took wage cuts as the coronavirus pandemic altered their working conditions, according to a survey by job search website, Incruit.

The pay cuts came mainly in the form of forced unpaid leaves and wage freezes. Others were even asked to leave their jobs.

The paycheck reduction started in January when the novel coronavirus first hit the country.

To cover their expenditures, 16.8 percent of those who took pay cuts had to withdraw cash, while 13.3 percent applied for loans. Others took part-time jobs or withdrew investments in financial products.

In another survey conducted by Saramin, it was revealed that more than 90 percent of 1,352 job seekers doubt they will get employed in the first half of the year.

They observed that there are fewer job posts and that the recruitment process is being delayed.