SEOUL, April 22 (AJU PRESS) - Amidst Korea's rapidly aging population and a trend of young individuals steering clear of smaller enterprises, the labor market has seen a rise in the number of older workers in 2023.
Data from Statistics Korea revealed on Monday that individuals in their 20s and 30s comprised 30.9 percent of the total small-and-medium-sized enterprise (SME) workforce of 25.3 million. Employees aged 50 and above constituted 47.8 percent of the workforce.
The phenomenon reflects the preferences of young job seekers. A survey conducted by the Korea Federation of SMEs in October 2023 among 1,000 people in their 20s showed that 47.4 percent prioritized higher wage levels when selecting employment opportunities, with 55.3 percent expressing reluctance to work for SMEs due to lower salaries.
Data also indicates that the average monthly wage desired by young job seekers was 3.2 million won ($2,336). In 2021, the average salary for SME workers stood at about 2.7 million won, while those employed in major conglomerates received an average monthly salary of about 5.6 million won.
In contrast, the predominant age group in major conglomerates was comprised of people in their 30s (30.9 percent), followed by those in their 40s (27.7 percent) and 50s (21 percent). Young workers in their 20s accounted for 15.7 percent of the workforce in major companies.
Copyright ⓒ Aju Press All rights reserved.