Seoul, South Korea – A recent survey conducted by the Korea Employers Federation (KEF) reveals a bleak outlook for young job seekers in South Korea. Nearly 40% of respondents reported that finding employment has become more difficult in the second half of the year compared to the first.
The survey, which polled 1,000 job seekers aged 20 to 34, found that the primary reason for the worsening job market was the prolonged economic downturn. Other contributing factors included intensified competition for limited jobs and a decrease in new job openings.
When asked about the challenges they faced during their job search, respondents cited a lack of relevant work experience and career development opportunities as the most significant hurdle. Despite recognizing the importance of hands-on experience, many young people struggle to find opportunities to gain the necessary skills.
Interestingly, when asked about their ideal job, the majority of respondents (59.2%) prioritized work-life balance. Other important factors included competitive compensation, comprehensive benefits, and a fair work environment.
The survey also revealed that many job seekers are turning to generative AI tools like ChatGPT to assist them in their job search. These tools are particularly popular for crafting resumes and cover letters.
Key findings of the survey:
43.1% of respondents reported a worsening job market in the second half of the year.
The prolonged economic downturn was cited as the primary reason for the deteriorating job market.
Job seekers prioritized work-life balance, competitive compensation, and comprehensive benefits.
Many respondents struggled to find opportunities to gain relevant work experience.
Generative AI tools are being used by job seekers to assist with tasks such as resume writing.
Overall, the survey highlights the challenges faced by young South Koreans as they navigate a competitive job market. The increasing emphasis on work-life balance and the use of AI tools reflect the evolving needs and expectations of today's job seekers.
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