The government will increase the nation's unemployment benefit payouts by more than 16 percent in the second half of the year, the Ministry of Employment and Labor said Friday. The ministry said it will raise the amount and duration of unemployment benefits starting in July, increasing the average payout per person to 8.98 million won (US$7,913) from the current 7.72 million won. "The payment period of unemployment benefits will be lengthened by 30 to 60 days, and the amount of payout will rise from 50 percent of the average income to 60 percent," the ministry said in a policy report to the National Assembly. Read More