College graduates in South Korea not actively seeking employment

Besides the lack of job vacancies, some South Koreans are taking time to better prepare, which accounts for their inactivity in the job market.
By: | October 26, 2022

Nearly seven out of 10 four-year college graduates have practically given up searching for jobs, showed a survey published by the Federation of Korean Industries (KFI). 

According to the survey of 2,469 job-seeking graduates and undergraduates by the lobby group, 65.8% of respondents have stopped job searching, with 31.8% only habitually looking for employment, 26.7% rarely partaking in job searching and 7.3% taking a break. 

Meanwhile, 66.3% of respondents said they expected their job search process to last for at least half a year. Those expecting job searching to take over a year also amounted to 36.4%. 

Only 16% of respondents said they were actively hunting for jobs. 

Among those who do not actively search for employment, 38.8% cited the lack of job vacancies as the reason why they were inactive, while 49.5%, or almost half, said they were taking the time to better prepare themselves. 

Of those who said there was a lack of job openings, 14.5% said they felt they would not be able to find a job even if they tried, while another 14.5% said there were not many openings that satisfied their interest or college major. Another 9.8% said there was a lack of job openings that satisfied their desired working conditions. 

READ: South Korean young adults taking longer to find jobs

The survey also found that 28.8% of respondents thought the lack of entry-level job openings was the most adverse part of the job search process. Similarly, another 19.9% pointed out there was a lack of internships and opportunities for hands-on work experience, reported The Korea Herald.