More than 60% of young people in South Korea perceive the current job market as difficult. Respondents cited a preference for experienced hires and a reduction in new job opportunities due to the rise of artificial intelligence (AI). A survey also indicated that extending the legal retirement age could further exacerbate employment challenges for the youth.
According to the 'Youth Employment Trend Survey' released by the Korea Employers Federation on September 29, 62.9% of respondents indicated that the job market is generally 'difficult.' The survey was conducted among 1,052 individuals aged 20 to 34 who are either job-seeking or currently employed.
Specifically, 31.9% reported it is 'somewhat difficult,' while 31.0% said it is 'very difficult.' In contrast, only 10.8% and 4% felt it is 'somewhat good' or 'very good,' respectively.
The primary reason for the perceived difficulty in the job market was the 'acceleration of hiring experienced workers,' cited by 49.5% of respondents. This was closely followed by 'decreased hiring compared to the previous year' at 49.2%, and 'reduced demand for labor due to AI utilization' at 49.1%.
Concerns among young people regarding the potential extension of the legal retirement age were significant. A total of 81.0% believed that such a move would lead to a decrease in new hiring by companies, marking a 10.2 percentage point increase from 70.8% in last year's survey.
When preparing for employment, the most emphasized activity among young people was participation in 'internships and work experience programs,' which accounted for 47.4%. This was followed by obtaining language scores and certifications (46.3%), attending job fairs and recruitment events (36.7%), and enrolling in job-related courses (31.4%).
In terms of job selection criteria, salary was the most important factor, with 66.6% of respondents prioritizing 'salary level.' Other considerations included job stability (46.0%) and job suitability or relevance to their major (34.7%). The preferred types of companies were public servants and public institutions at 30.2%, followed closely by large and medium-sized enterprises at 29.3%.
Regional differences were also noted. In the capital region, 32.5% of young people preferred large and medium-sized enterprises, surpassing the 28.4% who favored public servants and public institutions. In contrast, in non-capital regions, the preference for public servants and public institutions was 33.3%, exceeding the 24.1% for large and medium-sized enterprises by 9.2 percentage points.
The biggest challenge young people face in the job market is the 'lack of quality jobs' (50.9%). Similarly, 'lack of work experience and career' was cited by 49.0%. Among young people in non-capital regions, the percentage citing lack of experience and career was 53.6%, 7.4 percentage points higher than the 46.2% in the capital region.
To expand youth employment, the most frequently suggested policy was 'expanding employment infrastructure' at 49.6%. This was followed by strengthening support for companies hiring young people at 49.2%, and enhancing support for job-seeking youth at 47.4%.
Ryu Gi-jeong, the General Secretary of the Korea Employers Federation, pointed out, 'Young people are aware of the trend toward hiring experienced workers, but they are facing a double challenge of lacking opportunities to build job skills that meet their expectations.' He added, 'A two-track strategy is needed to enhance employment infrastructure that boosts job seekers' capabilities and to provide incentives for companies that voluntarily offer youth employment support programs.'
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.