(URGENT) S. Korea loses 40,000 jobs in May, first decline in 17 months

South Korea experienced a significant job market downturn in May, with approximately 40,000 positions lost. This marks the first monthly decline in employment figures seen in 17 months, indicating a potential shift in the nation's economic recovery. The decrease suggests that recent economic headwinds may be impacting the labor market more broadly than previously anticipated.

This job loss trend is significant as it could signal a slowdown in economic growth and potentially impact consumer spending and business investment.