880,000 Won Generation

880,000 Won Generation (Korean: 88만 원 세대) is a neologism that refers to a South Korean generational cohort that was born around the same years as Millennials and describes young graduates trapped in low-paying jobs ($650–$750/month). The term was coined by economist Woo Suk-hoon in 2007.[1][2] The generation suffered from high youth unemployment and economic instability following the post-1997 financial crisis,[3] and faced intense competition and limited prospects for permanent employment.

See also

References

  1. ↑ The ironies of South Korea’s “digital generation” Hankyoreh, 2013-03-19
  2. ↑ Young South Koreans become the '880,000 Won Generation' Seo Eun-kyung and Kim Junghyun, REUTERS/Taipei Times, April 12, 2009
  3. ↑ Youth Unemployment at 15-Year High in South Korea The Diplomat, Steven Denney, July 2015
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