Study very well to be unemployed
Yoon Chang Hyun is an engineer of Samsung Electronics Corporation with a stable salary. However, in 2015, despite the family's objections, the boy decided to quit his job to open a passionate Youtube channel. With a salary of 65 million Won (US $ 57,619) per year, three times higher than the average salary in Korea, it is understandable why Yoon's parents objected.
However, it did not last long, the pressure of working, the filming nights, the small number of followers and high prices made Yoon give up on this crazy dream.
In fact, Mr. Yoon's story is one of the many cases of Korean youth today. The dream of becoming a star, starting a business or pursuing passion is now suppressed by the difficult life and the slowing economy.
If you have seen the movie "Parasite" (Parasite) of Korea, the audience can clearly see the status of unemployment and less opportunities for Korean youth.
Today, Korean workers do not care about other things besides trying to get stable jobs, like in big corporations or civil servants. Even more, many people moved to rural areas to work or go abroad to work. It is certain that many Koreans prefer to work in countries like Vietnam with higher remuneration than going home with tough competition and expensive prices.
Official data show that the unemployment rate among young Koreans aged 25-34 reached the highest level in 19 years. Particularly in the past 3 years, the unemployment rate of Korean youth has increased dramatically, especially for those with university degrees.
If considering the people aged 15-29, the unemployment rate reached 11.6%, much higher than 9% in the US. Among new graduates or part-time workers for civil servants, 1 out of 4 people are completely unemployed and have to give up.
The main reason for this situation is because a series of small businesses limit or stop recruiting new employees before increasing costs. Although Korea's unemployment rate is nothing compared to the economies in Europe, if you consider the education level of unemployed people, you will probably be shocked. Data from the Organization for Economic Co-operation and Development (OECD) shows that 69% of Korean young people aged 25-34 have a university degree in 2015 but one-third of unemployed people are bachelors.
Meanwhile, the working time of Korean workers is also the shortest in OECD with only 6.6 years, much lower than the average of 9.4 years of the whole and 11.5 years of neighboring Japan. Copy. Worse, surveys show that 55% of Korean workers are unhappy with their jobs, the lowest level in OECD.
The main reason is that many young Koreans have to work part-time or unstable or un-industry. The labor market is harsh with weak demand, making Korean workers more miserable than many economies.
It is also for this reason that large corporations or public officials become the attraction for young Korean workers.
Currently, family-owned conglomerates (Chaebol) such as Samsung or Hyundai are becoming Korean attraction points because of the stable and high-paying employment regime. Saramin data show that Samsung Electronics is still the most desirable workplace for young people graduating in 2019.
However, with high unemployment and expensive prices, even graduates of the most prestigious schools in Korea are struggling to apply for jobs in these chaebol.
Chaebol or nothing
Moon Ye Won, a 24-year-old graduate student from the famous Seoul National University (SNU), is a school that is likened to Korea's top university, starting the annual job search race. .
As expected of the prestigious degree, Miss Moon can find a job easily but no, the competition for Samsung's recruiting is extremely high and the candidates like Ms. Moon also have a very small chance.
Having two bachelor's degrees in economics and Spanish language, Ms. Moon easily worked as a trainee for a Korean company in Iran. Even so she now has to work as a part-time employee for Starbucks while preparing a job application for all of Korea's 8 big chaebol.
Moon's expectations show the trend of Korean youths who require stable work today. Major corporations such as Samsung, LG or Hyundai still account for nearly 50% of the Korean economy, thereby ensuring job stability.
Despite the scandals surrounding corruption, attitudes toward employees or social class inequality, people are averse to chaebol, but Korean youth today have no other choice. Lotte's scandals, Hanjin or Samsung just make them cut down on employees, but it doesn't help young workers. Korean youths do not claim any more rights to the culture of working in Korea.
An entry contest of Samsung Electronics
A recent survey showed that nearly half of the 500 big companies in Korea said they would cut labor due to difficult business.
"It is really a problem, when I take the entrance exam of these corporations, I always remember their scandals and cannot concentrate," admitted Ms. Moon.
In 2014, about 200,000 candidates registered for Samsung's entrance exam to compete for 14,000 jobs.
According to the International Monetary Fund (IMF), Korea is the country with the highest income inequality in Asia with the top 10% of the rich earning nearly 50% of the country's total income. In fact, this figure is quite low, about 29% in 1995 and lower than many other Asian countries. However, the labor market is difficult and culture works more "relational" than talent has eroded social equality.
At large companies, people who have many relationships and are liked by the boss will be reminded more than those with real talent. This is the main reason why the movement of the grandchildren of father and chaebol is so strong.
Ironically, these chaebol relate well to the government and are too big to break down, so they remain indifferent, while the young working class, even though they hate it, are rushing to apply to these corporations. Worse, this is the main reason why Korea's start-up rate is on the decline as young people are not encouraged and encouraged to pursue adventure, pursuing their dreams when life is too difficult.
Give up the dream to feed the state
Every beautiful morning at the Noryangjin station in Seoul, the line of people wearing backpacks, dressed in office clothes is overflowing with footpaths, rushing towards red light waiting points. The strange thing is that this area is nothing but fish markets and wedding reception centers, so where does this white-collar labor come from?
Making Korean police quite stable and attracting young people
In fact, this is the place where there are many private training classes for those who want to take civil service exams in Korea. One of the students of these centers is Ms. Song Ji Hye. The bachelor of this police university was 28 years old but never had a full-time job by failing the civil servant exam. She herself has attended such supplementary classes since 2017 only to pass on to being a public servant.
The Willbes Academic Campus is one of the centers Ms Song attended near Noryangjin Station. Here, people teach history, English, laws, police policies as well as many related subjects like math. The center also carefully prepares students to pass physical tests, written exams or interviews to be accepted as police officers.
Although the competition failed, Ms. Song tried to live and die in this civil service because they had a stable benefit regime. Similar to Ms Song, many young Korean people also give up their career dreams to become civil servants. In 2018, about 170,614 Korean young people registered for the police examination, but only 7,294 people received, equivalent to 4%.
The Seoul government is currently planning to create 174,000 civil servants from now until 2022. In 2019 alone, there will be an additional 9,475 civil servants.
Currently, public administration is the labor market that is most sought after by Korean youths because of safety. Any civil servant will be guaranteed to sign a full-time labor contract until the retirement age with a stable salary.
However, to be a civil servant is not easy, after sliding the exam in 2017, Ms. Song had to work part-time for 2 years for her exam again and still have to cling to her parents to get the rent as well. pay tuition for training classes.
According to SNU Professor Jung Chul Young, Korean youths depend on their parents and many live with them until retirement. This is different from Western culture when young people live independently and experience very early. This is an easy-to-understand reason for the preferred trend of "iron rice bowls", words to refer to stable jobs like the current public servants.
Korean book stores are flooded with input exam guides for chaebol.
"I don't think being a civil servant is an optimal job, but it is stable," said Lee Seung Hoon, a 23-year-old student in engineering who has stopped studying to test civil servants.
Even so, to be a civil servant is not easy. For example, the 2018 civil servant entrance rate was 2.4% for more than 200,000 applicants, higher than the 4.50% of Harvard's prestigious university.
A public report in 2018 shows that nearly 500,000 Koreans are examining for public officials instead of actually finding something to do. In 2017, the Hyundai Research Institute showed that these components made the economy lose more than $ 15 billion because of the dream of holding "iron bowls".
For those who do not apply for a chaebol or a civil servant, they find a new way to be safer. In the 2013-2017 period, South Korea had 24% of households abandoning urban life to go back to work in the countryside, equivalent to more than 12,000 households.
For those who cannot stand the countryside, they find labor exports. In 2017, nearly 5,800 Korean workers went abroad to work, 3 times higher than in 2013, that is, excluding those who work without permission or do not register with the government.
Official data of Japan also showed that by the end of 2016, Korean workers imported to this place increased by 16% and still continued to go up.
With the current development momentum, soon in the future, markets such as Vietnam, Japan, Singapore … may be the promised land for young Korean workers who are struggling in the economy. 4th largest economy in Asia.
South Korean President Moon Jae In