{"id":2206747,"date":"2024-10-10T13:29:40","date_gmt":"2024-10-10T04:29:40","guid":{"rendered":"https:\/\/koreapro.org\/?p=2206747"},"modified":"2024-10-11T15:41:23","modified_gmt":"2024-10-11T06:41:23","slug":"south-korea-faces-jobless-youth-crisis-amid-employment-mismatch-and-isolation","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2024\/10\/south-korea-faces-jobless-youth-crisis-amid-employment-mismatch-and-isolation\/","title":{"rendered":"South Korea faces jobless youth crisis amid employment mismatch and isolation"},"content":{"rendered":"
The number of economically inactive youth in South Korea is surging, exacerbating economic and societal risks as many voluntarily opt out of the workforce. This trend signals deeper challenges in the country\u2019s labor market, education system and corporate culture.<\/span><\/p>\n According to <\/span>Statistics Korea<\/span><\/a>, the number of youths aged 15 to 29 choosing not to seek employment has reached 400,000. Of this group, a staggering <\/span>75%<\/span><\/a> have no immediate plans to find work, while more than 260,000 individuals in their 30s are in a similar situation.<\/span><\/p>\n These figures resemble the peak of the early pandemic years when over 440,000 young people voluntarily chose to leave the workforce.<\/span><\/p>\n The situation is more complex than the numbers suggest, as many of these economically inactive individuals do not suffer from serious illnesses or disabilities. For a growing number, this \u201cresting\u201d phase has become indefinite.<\/span><\/p>\n EMPLOYMENT MISMATCH<\/b><\/p>\n A key driver behind the growing number of inactive youths is dissatisfaction with the jobs available. Among the 400,000 young people classified as resting, 42.9% <\/span>reported<\/span><\/a> they could not find jobs that met their salary expectations. Another 18.7% cited a lack of available positions, while 13.4% stated they felt they lacked the qualifications for the jobs that are available.<\/span><\/p>\n This dissatisfaction has led to a strong preference for jobs at large corporations. According to a <\/span>survey<\/span><\/a> by the Korea Chamber of Commerce and Industry, 64% of youth expressed a preference for employment at large companies, followed by 44% at public institutions and 36% at mid-sized firms.<\/span><\/p>\n For many, the allure of large corporations lies in perceived opportunities for better career growth and benefits.<\/span><\/p>\n \u201cSocial media has made it much easier for prospective employees to compare wages and the different kinds of work culture that businesses pursue. And larger companies are better in almost every metric,\u201d Kwon Ki-suk, a former employee at an IT start-up firm, told <\/span>Korea Pro<\/span><\/i>.\u00a0<\/span><\/p>\n \u201cI want to work for a larger company, too,\u201d he said.<\/span><\/p>\n While it takes <\/span>almost a year<\/span><\/a> for college graduates to secure their first job, according to the Korea Association of Governance Studies, the preference for large corporations often leads to <\/span>extended periods of job searching<\/span><\/a>.<\/span><\/p>\n However, some young people are willing to wait.<\/span><\/p>\n \u201cOf course, I feel anxious being unemployed. And I know that I am hardly the only one submitting resumes to the big firms. But I\u2019m willing to wait until I get the right job. It\u2019s important to get the right job. It can determine the rest of your professional life,\u201d Kwon said.<\/span><\/p>\n Beyond personal preferences, a significant factor behind an increasing number of young people applying for jobs in large corporations is the high turnover rate at small and medium-sized enterprises.<\/span><\/p>\n