High unemployment figures for young people in South Korea are taking their toll as more and more youngsters are leaving the country to work abroad. In 2018, more than 5,700 people took part in the Korean government’s overseas employment program, which is mostly geared towards unemployed youth. The number was more than triple that of 2013.
One third of jobseekers is headed for Japan, which has been experiencing a severe labor shortage in recent years. Other popular destinations are the U.S., Singapore and Australia.
South Korea has only created 97,000 new jobs in 2018, the fewest since the financial crisis, according to Reuters. This has left many young South Koreans scrambling to find employment. In April, more than one in ten South Koreans between the ages of 20-29 was unemployed.
Unemployed Youths are Leaving South Korea
Work Abroad
Description
This chart shows participants in the South Korean government overseas employment program 2013-2018 as well as youth unemployment in South Korea in April 2019.
