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S. KOREA'S TUMBLING EXPORTS FEARED TO SPARK HUGE JOB LOSSES.
SEOUL, March 2 Asia Pulse - South Korea's plunging exports are likely to lead to massive job losses, a private think tank said Sunday, calling for measures to retain payrolls at export industries.
In a report on the impact of falling exports on employment, Hyundai Research Institute estimated that if South Korea's exports fall 30 per cent annually this year, about one million jobs will be lost after a year.
Most job losses will take place at South Korea's nine key export industries such as steel, cars, shipbuilding and semiconductors, it said.
In light of that, the think tank said the government should take measures to help exporting companies retain their payrolls and provide more tax breaks to companies that do not eliminate jobs.
In addition, the government should delay the overhaul of public companies, so that they could absorb workers fired by private ...
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