context: On May 15, Chung Ha-seong, chief of policy at the Blue House, said that up to now, there was no effect of a decrease in employment due to the increase in the minimum wage. [8] On May 16, Kim Dong-yeon, deputy prime minister of economic affairs and Minister of Strategy and Finance, said he believes the increase in minimum wage has affected employment. [9] On May 30, President Moon Jae-in said, "The minimum wage increase has a positive effect of 90%." [10] On June 4, the Korea Development Institute published a report titled <The Impact of the Minimum Wage Increase on Employment>. According to the report, the impact of job losses due to this year's minimum wage increase (16.4%) was not significant. It is projected that employment of 14,000 people will decrease. [11] On July 12, Kim Dong-yeon, the economic deputy prime minister, said, "Before aiming at 10,000 won by 2020, we need to flexibly consider the current economic situation, employment conditions, the impact on the vulnerable, and the capacity of the market." Raised the need. [12] On July 14, the Minimum Wage Commission decided to raise the minimum wage in 2019 by 10.9% (820 won) to 8350 won per hour (1,755,150 per month equivalent). This is 5.5% lower than last year's (16.4%), and the likelihood that President Moon Jae-in's pledges could not be realized. [12] On July 16, President Moon Jae-in said, "The goal of achieving a minimum wage of 10,000 won by 2020 is virtually difficult," he said. "I apologize for not meeting the presidential pledge." On August 17, the National Statistical Office released 'July Employment Trends'. It was found that the number of employees increased by 5,000 compared to the same period of the previous year, the lowest in 8 years and 6 months since January 2010. [14] On August 21, at the plenary session of the National Assembly's Budget Settlement Committee, Employment and Labor Minister Kim Young-joo said, "The increase in the minimum wage may affect some small businesses or merchants, but it cannot be said to have a major impact on the worsening employment." "There are many factors that are caused by poor economic indicators rather than wage increases." On August 22, at the National Assembly's Environmental Labor Relations Committee, Kim Young-joo, Minister of Employment and Labor, said, "It is not at all related to the minimum wage because the number of employment trends in July has stopped at 5,000." On August 25, South Korean Party spokesman Yoon Young-seok said, “Indeed, there are serious job disasters. In the past, the average monthly employment growth was 59.8 million in 2014, 28.1 million in 2015, 23.11 million in 2016, and 31.6 million in 2017. Since February 2018, when wages have increased by 16%, they've plunged to 100,000, and in July they had a disastrous result of 5,000, the lowest level in eight years and six months. In terms of polarization, "the income polarization is also the worst. According to the household survey of the second quarter of 2018, the fifth quartile showing the gap between the rich and the poor was 5.23, the worst in 10 years. While it surged 10.3% yoy, the bottom 20% household income fell to -7.6% yoy. " He said, "In a year and four months after the inauguration of the Moon Jae-in government, even if the budget of 54 trillion won was invested, only about 90,000 jobs would be added. The rant has no place where it went. " On August 25, Kim Yong-tae, secretary-general of the Liberal Korean Party, cited an article on the Korean economy and criticized the government's policy. In late July, a woman in her fifties who had been in the kitchen assistant for several years was fired due to a sharp increase in the minimum wage, and she committed suicide after leaving two children when she could not get another job. "Mr. A, who lived in Wolpyeong-dong, Seo-gu, Daejeon, was found dead in his bathroom at the end of last month," he said. However, the article was suddenly deleted on the 26th. Daejeon provincial police denied this fact. [18] On August 26, President Moon Jae-in made the Hwang Su-kyung Statistics Director unusually hard in 13 months, and appointed Shin Shin-wook, a senior research fellow at the Korea Institute for Health and Social Affairs. Usually, regardless of the regime, the Commissioner of Statistics has been serving for about two years. [19] President of the President's Office of President-General Chang Ha-sung held a press conference at the Blue House to clarify that he would never give up his income-driven growth policy. This is not a failure of the government's economic policy, but a false economic policy of the Lee Myung-bak and Park Geun-hye administrations. [20] On September 11, the Korea Development Institute evaluated that “the employment trend in July” by the National Statistical Office, “the number of new employees increased by 5,000 compared to the same period last year,” was evaluated as “it is difficult to explain just by changing the demographic structure and the economic situation”. It is acknowledged that there are some adverse effects of income-driven growth policies, such as a sharp rise in minimum wage and shorter working hours. [21] On September 12, the National Statistical Office released the August Employment Trends. The number of employees was found to be 3,000 compared to the same period last year, reaching a new low. In addition, the unemployed was 133,000, an increase of 134,000 from a year ago, hitting a record high in August, after recording 1,344,000 in 1999. The employment rate was 60.9%, down 0.3% p from a year ago, and the unemployment rate was 4.0%, up 0.4% p from a year ago. The unemployment rate for young people (ages 15-29) also rose 0.6% p to 10.0%, the highest since August's 10.7% in August 1999. By industry, the decline in manufacturing jobs continued, while the wholesale and retail, lodging and restaurant businesses also saw fewer jobs. [22] By type of employment, the number of temporary workers vulnerable to the minimum wage decreased by 187,000, and the number of daily workers decreased by 52,000. By age, the unemployment rate increased except for those in their 60s and above, especially in their late teens to early 20s. [23] A spokesman for the Blue House, Kim Eui-gyeom, said in August of the trend of employment in August that the number of new workers increased by 3,000 compared to the same period last year, "I think it is a pain accompanying the changing nature of our economy." On December 27, Deputy Prime Minister Hong Nam-gi said he is considering a plan to reform the minimum wage in a way that two committees decide, rather than a single committee. Mr. Hong said, "The most important consideration is the dualization to the 'section setting committee' and 'decision committee'." It is a system in which the section setting committee determines the section on the minimum wage increase, and the decision committee determines the minimum wage within this section. [25] On December 31, the Cabinet Council passed an amendment to the Enforcement Decree of the Minimum Wages Act, which sums up to "the actual working hours" (prescribed working hours) and the "working hours but paid hours" (paid weekday). However, the economic community has opposed it because the Moon Jae-in government's minimum wage has risen by nearly 30% over the past two years, and it must be doubled if it is added by the daytime holiday. The Korea Employers Federation said, "In a situation where the burden of labor costs is high, if the additional increase of the minimum wage is not immediately followed according to the ordinance, it is subject to administrative punishment." [26]
question: What is the percentage of youth unemployment in Korea in 2018?
answers.text: 4.0%