Moon orders debt rehabilitation plan for pandemic-hit young people

SEOUL, Oct. 21 (Yonhap) -- President Moon Jae-in on Thursday instructed officials to actively come up with a plan for debt rehabilitation for young people who became heavily indebted due to the COVID-19 pandemic.

The plan is aimed at helping young people who borrowed money from more than one financial institution as the pandemic took a heavy toll on job markets, presidential spokesperson Park Kyung-mee said in a statement.

Last year, the number of employed people in South Korea declined by 220,000, marking the largest job losses since 1998.

kdh@yna.co.kr
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