20230516 AI Yoon's economic vision img

South Korean President Yoon Suk Yeol has entered his second year as president. The question is whether he can spur growth in a sputtering economy. © Nikkei montage/Source photo by Getty Images

South Korea's weak growth tests Yoon's resolve to cut spending

Subsidy and patronage habits keep economy tied to inefficient old ways

SEOUL -- Lim Ji-yeon is cursed or screamed at a few times a day by the customers she speaks with in her job at a call center.

She fields 50 to 60 calls daily from clients inquiring about the financial support schemes her organization provides. Despite the taxing nature of their work, call-center staff earn only slightly more than $2,000 per month at a time when rising housing and food prices are squeezing household budgets.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.