South Korea job seekers face rising costs and benefit rule changes

Recent updates to South Korea’s National Employment Support Program have modified how job seeker promotion allowances are calculated. Previously, earning more than 500,000 KRW per month resulted in a total suspension of benefits. Under the revised rules implemented in February 2024, benefits are now reduced based on income levels rather than being cut off entirely. For a single-person household, the allowance remains intact if monthly income is below approximately 938,543 KRW, as the difference between the income and the median income threshold remains above the monthly allowance limit.

Separately, a survey by the Federation of Korean Industries reveals the financial strain on job seekers. Young adults aged 19 to 34 report spending an average of 580,000 KRW per month on job preparation. The largest expenditure category is fees for language and certification exams, accounting for 30.7% of costs. Those aiming for large corporations face higher monthly expenses, averaging around 700,000 KRW. The study notes that 32.8% of these costs are covered by parental or family support, highlighting the economic burden placed on youth during prolonged job searches.