92
November, 2020
South Korea
Global:
20
Availability:
16
Cost:
62
Regulation:
32
Productivity:
16
2020 Global TWI Ranking (out of 76) 2020 Regional TWI Ranking (out of 15)
Region:
5
Availability:
3
Cost:
11
Regulation:
5
Productivity:
8
Remote
Readiness
2
Remote
Readiness
11
Borders are open although there is a 14 day
quarantine period.
Face masks and social distancing are
compulsory in public places.
Schools and non-essential shops are open.
3.5%
8.8%
0%
20%
South Korea Regional Ave.
%
of
GDP
South Korea
Q4 2019* Q4 2020*
% Change
YOY
Total Workforce
28.5M 28.1M -1%
Unemployment Rate (%) 3.5% 4.2% +20%
Unemployed Workers 997K 1.18M +18%
South Korea has spent $56 billion USD on measures to limit the impact of Covi19. The measures that have
been implemented to protect jobs and the economy include:
• Financial support for SMEs and the self-employed to encourage job retention
• Financial support for the unemployed and low income households
• South Korea has a recovery plan – Korean New Deal. It aims to create over 900K jobs in Digital, 600K in
Green technologies and over 300K new jobs to protect the vulnerable in society
• https://www.imf.org/en/Topics/imf-and-Covid-19/Policy-Responses-to-COVID-19
Manpower 2020 Total Workforce Index
Workforce Statistics
Covid-19 Situation
Covid-19 Government Spend as % of GDP Border Closures and Restrictions
Additional Government Spending and Foregone Revenue to September 2020
Covid-19 Confirmed Cases and Deaths Reported to WHO (on a weekly basis)
*Reported figures at Q4 each year
https://covid19.who.int/
https://www.imf.org/en/Topics/imf-and-covid19/Fiscal-Policies-Database-in-
Response-to-COVID-19
Other Sources:
https://data.worldbank.org/
https://ilostat.ilo.org/
https://home.kpmg/xx/en/home/insights/
https://www.gov.uk/foreign-travel-advice
United States Embassy
https://tradingeconomics.com/
https://kostat.go.kr