Author: Jae-jin Yang, Yonsei University
South Korea has experienced three economic crises since its democratisation in 1987: the Asian financial crisis (1997–1999), the global financial crisis (2008–2009) and the current COVID-19 economic crisis. Like the two crises before it, the COVID-19 economic crisis has given renewed impetus for expanding social welfare support in South Korea. A couple wearing masks walks in an empty shopping distrct amid the coronavirus disease (COVID-19) pandemic in Seoul, South Korea, 25 August, 2020 (Photo: Reuters/Kim Hong-Ji). In response to the Asian financial crisis, the progressive Kim Dae-jung government expanded social security. In 1998 as a […]
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