Young Koreans spend an average of about 300,000 won ($210) a month on private education to prepare for job applications, a survey showed. Factoring in how long it takes to land a first job, the total burden reaches 3.3 million to 3.6 million won.
3.6 Million Won for Job Preparation, Concentrated in Certificates, Language Tests and Consulting
In an online survey of 557 people aged 19 to 39 conducted by the Spring of Education Foundation and the Youth Foundation, 93.7% said they had used private education while preparing for employment, the two organizations said on Oct. 2.
Among those who actually paid for it, monthly spending averaged about 300,000 won. A survey by the National Data Agency found that it takes young graduates about a year, or 11.2 months, to land a first job. On that basis, spending on private education during the job preparation period amounts to 3.6 million won. That is close to half the 7.27 million won average annual tuition at four-year universities this year.
The most widely used form of private education was study for certificates related to a respondent's major, at 52.1%. Language training such as TOEIC and TOEIC Speaking followed at 43.4%, while consulting on cover letters, interviews and portfolios came to 40.0%. Another 32.3% said they had prepared for certificates outside their major.
A high share also reported financial strain. Some 63.6% said they had struggled because of the cost of private job-preparation education. Asked how they covered the expense, 65.0% cited income from their own part-time work and 55.1% cited support from parents.
A 28-year-old who recently landed a first job after a long search said the repeated rejections bred self-doubt. "I kept getting rejected despite my efforts, so I grew anxious that my approach was wrong," the person said. "I turned to private job consulting as if grasping at a lifeline."
"I spent about 800,000 won on four consulting sessions over a month, and because part-time work was hard to find, I borrowed money from my parents to cover it," the person added. "Hiring is also a field where information matters, so I came to think more of these private services are bound to appear."
A Diploma Is No Longer Enough, Fueling a Credentials Race
Such spending is tied to intensifying competition for jobs, analysts say. As the number of people completing higher education has risen, so has the drive to build credentials beyond a diploma.
Last year, 71.1% of Koreans aged 25 to 34 had completed higher education, the highest level among OECD member countries. The employment rate for university graduates aged 25 to 64, by contrast, stood at 80.1%, below the OECD average of 86.0%.
In the Spring of Education Foundation and Youth Foundation survey, 79.4% of young respondents said they would be at a disadvantage without private job-preparation education, and 89.3% said such education helps in securing a job.
Kim Sun-hee, head of research and projects at the Spring of Education Foundation, said companies asked entry-level applicants to list an average of 12.7 credential items in the foundation's own survey of employers. "From a job seeker's perspective, filling in those fields is seen as a key test for passing the document screening, which mass-produces over-credentialing," she said.
Kim Hyun-jin, a senior researcher at the foundation, argued that cutting these costs requires reviewing gaps in existing employment support programs and expanding regional job-support infrastructure such as university job-plus centers.
"Through ties between universities and companies, we need to expand work experience and internship opportunities so that young people build actual job skills during the preparation process," the researcher added.
