South Korea’s central bank said that private-sector employment is expected to improve modestly in 2026, as recovering domestic demand supports hiring, while overall job growth slows. In an issue note released Wednesday, the Bank of Korea (BOK) projected private-sector employment to rise by around 60,000 this year, up slightly from an estimated 50,000 increase in 2025, with a further gradual improvement anticipated in 2027. Total employment growth, however, is forecast to decelerate from last year as labor supply growth eases and public-sector hiring moderates.

The report places new emphasis on private-sector employment as a more reliable gauge of labor-market conditions