Six in 10 young South Koreans who are job hunting or recently employed say the labor market for young people has become tougher, and eight in 10 expect companies to cut new hiring if the statutory retirement age is extended.
According to a survey of 1,052 young job seekers and workers released on Sept. 29 by the Korea Enterprises Federation, 62.9% of respondents said the youth job market is "difficult overall." Of those, 31.9% said it was "somewhat difficult" and 31.0% said it was "very difficult."
Asked why conditions have worsened, 49.5% cited the accelerating shift toward hiring experienced workers, the most common answer in a multiple-response question. Another 49.2% pointed to a decline in hiring from a year earlier, and 49.1% cited weaker demand for labor as companies adopt artificial intelligence.
Asked how an extension of the statutory retirement age would affect corporate recruitment, 81.0% said the number of new hires would fall. That share was up 10.2 percentage points from last year's survey.
A federation official said the deepening concern reflects the fact that debate over extending the retirement age has gained momentum, sharpening fears among young people that employment will contract.
The step young people most often prioritized in preparing for employment was taking part in internships and work-experience programs, at 47.4%. That was followed by language test scores and certifications at 46.3%, job-search activities such as attending recruitment briefings and job fairs at 36.7%, enrolling in job-preparation courses at 31.4% and building a portfolio through competitions at 16.8%.
Pay was the top consideration when choosing a workplace, cited by 66.6%, followed by job security at 46.0% and a fit with their duties or field of study at 34.7%.
On the type of employer they were targeting, 30.2% pointed to government or public-sector jobs and 29.3% to large or mid-sized companies. Among those living in the Seoul metropolitan area, large and mid-sized companies came first at 32.5%, ahead of public-sector jobs at 28.4%. Outside the capital region, public-sector jobs led at 33.3%, compared with 24.1% for large and mid-sized companies.
The biggest obstacle young people reported in the job-search process was a shortage of quality jobs, at 50.9%. Asked which measures should be prioritized to expand youth employment, respondents most often chose stronger employment infrastructure such as training, counseling and information services, at 49.6%.
Ryu Ki-jung, executive managing director of the federation, said young people are aware that hiring has shifted toward year-round recruitment of experienced candidates but face a double bind. "There is a shortage of jobs that match their expectations and of opportunities to build job skills," Ryu said. "To close the mismatch and support career development, we need a two-track strategy that expands employment infrastructure to raise job seekers' skills and strengthens incentives for companies that voluntarily offer youth employment support programs."
