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SKorea to freeze foreigners' employment permit

(Xinhua)
Updated: 2008-12-30 17:32

SEOUL -- The South Korean government announced Tuesday to temporarily halt issuing employment permits to foreign nationals hoping to work in the country as the recent number of newly employed foreigners exceeded a set quota.

An employee of the Korea Exchange Bank (KEB) works in front of stacks of ten thousand Korean won bills for purchasing US dollars and Japanese yen at the bank's headquarters in Seoul December 22, 2008. [Agencies]

The freeze in permits will be in effect until February 2009, as the number of foreign workers employed here from March has reached the set quota of 72,000, said the Ministry of Labor.

The ministry said it plans to announce a new quota in February in consideration of economic slump and a possible decrease of jobs for overseas workers.