Either of these components would have been unproblematic, together they make the markets and the rating agencies nervous. The fiscal adjustment could possibly have been delayed by a year or two had it not been for the banking losses; now it cannot wait. There have been misgivings about the scale of the fiscal adjustment and the withdrawal of aggregate demand that it will entail.
  Such high value added industries are vital in order to solve the problem of youth unemployment, which exhibits a high “reservation wage”. –  BIS Review 110/2010  Although there has been an overall improvement in the labor market in Korea, unemployment among young people stood at 8.3% this July, which was still above its pre-crisis level.