Europe takes to streets, Korea's young stay silent
Amid growing concerns over demonstrations in Paris turning violent, soaring rents are being cited as one of the issues pushing Europe’s youth into the streets. In Madrid, for example, the average rent is equivalent to 98.7 percent of a young worker's monthly salary. Soaring rent has emerged as a severe social problem for young people across major European cities including Berlin, Paris and…
Across Europe, young people are taking to the streets in response to rising rents, with soaring housing costs becoming a significant social issue in major cities like Paris, Madrid, Berlin, and London. Rent prices in Madrid, for instance, consume 98.7 percent of a young worker's monthly income. This growing concern has emerged as a severe problem for the continent's youth, despite Europe's historical role as the engine of the global economy.
Turning to Korea, one might wonder how its young citizens are faring. While many Koreans are troubled by the decline in the stock market, the country appears to be in a stronger position when compared to European nations based on key macroeconomic indicators. The semiconductor industry has been a significant driver of growth, with exports between January and September of the current year surpassing the total exports of the entire previous year.
Additionally, nominal gross domestic product experienced a 9.2 percent increase in the second quarter compared to the previous quarter, marking the highest growth rate in 47 years. Despite these positive economic indicators, only a small number of young people in Korea are actively working.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Europe takes to streets, Korea's young stay silent koreatimes.co.kr
