It is a fact that the overall job market is getting more challenging due to globalization and the dynamic market situation. However, the matter is that in Korea, the unemployment issue among foreigners is of the main level, and it has become a valid concern that the government has to think of. People believe that getting an advanced degree is enough to get a good job. However, in the case of Korea, the scenario is a bit different. Foreigners in Korea who have obtained an advanced degree in Korea are struggling to find a suitable job. This is only because of incomplete information on employment and their inability to be highly comfortable in the Korean language. This statement is being provided here by considering the Korean Research Institute for Vocational Education and Training. On Sunday, the institute has released a report. The report was mainly of international graduates with master’s degrees’ career preferences. The report also highlights the perception of them on the domestic labour market. The report shows the difficulties that educated foreigners in Korea are facing concerning getting a job. The situation of foreigners in Korea is going to be highlighted in the following section.
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The situation of educated Korean foreigners in the job market
The study conducted by the Korean Research Institute for Vocational Education and Training shows that around 25 percent of the 8,427 foreign nationals who have already completed a master’s course between the time phases 2016 – 2018 were working here currently. On the other hand, 53% of 2,647 people who have completed a doctorate from this country within 2017 – 2019 worked here. The concern is about others who have completed the master’s and a doctorate from this place and are still struggling to get a job. By doing this statistical analysis, it can be stated that the Korean Job market at its worst. The situation has occurred since the crisis-hit period after the hike-related to minimum wages. Due to this some employers reduce the hiring rate, and this issue is contributing to an effective unemployment rate among Korean foreigners. In 2018, the data that Statistics Korea has released, the number of foreigners in South Korea who were out of work was 44,000. However, in 2019, Statistics Korea has released the employment data, and by considering this data, it has been possible to understand that the number of employed foreigners in Korea was 863,000 in 2019. In 2018, 21,000 more foreigners were employed in Korea. It means that within the period 2018 – 2019, the unemployment rate among educated Korean foreigners has been increased, and the number of unemployed foreigners has been increased from 6,000 to 50,000 within the period 2012-2019. It is essential to analyze the current situation and analyze the current situation. It is being found that the large numbers of working foreigners who have master’s degrees are working in private organizations.
On the other hand, 70% of doctorate holders who have been employed are working in research centers and universities. In this regard, a survey has also been conducted among 650 foreign residents. All of them have accomplished a postgraduate course between the period 2015 – 2019. The survey intended to acquire information regarding the problems they are facing in the job market. By considering their viewpoint, it has been possible to determine the reasons behind the increasing unemployment rate among educated Korean Foreigners, and a discussion regarding it will be elaborated in the following section of this paper.
Reasons behind the increasing unemployment rate among educated Korean foreigners
In this survey, multiple replies were allowed. Among 426 master’s degree holders, 49.5% percent of people have stated that insufficient information regarding companies and the workplace environment prevents them from securing a job in Korea. On the other hand, 49% of people have indicated that they do not have adequate information regarding the recruitment process. It can be regarded as a significant reason why they face trouble securing a Korean market job. Many of them have stated that lack of proper career counseling programs can be considered a significant reason they face problems getting a job. A lack of information regarding work visas has also been found as a substantial reason behind the increasing unemployment rate among educated Korean foreigners. Among 650 people surveyed here, 224 individuals have completed the doctorate from Korea, and 57% of them have been informed about finite recruitment details, which is why they face trouble getting a job. 48% of individuals have stated that a lack of knowledge regarding Korean language skills is causing them to face challenges regarding getting a job. By considering the problems they are currently facing, it is possible to find out the way outs t these crucial issues. In the following section, a discussion regarding the same is being elaborated.
How to mitigate the unemployment-related issues among educated Korean foreigners
To utilize the highly educated foreigners in the Korean job market, universities have to take on some responsibilities. They are required to help these people to get adequate information regarding the recruitment process. In the above-stated passages, it has been stated that these people are not obtaining sufficient information regarding the job market, and it is preventing them from being employed. If these people would be provided with adequate information regarding the job market and if these people would be provided with the chances to develop Korean language skills, then it is for sure that the career development process would be a bit smoother for them. By considering this matter, it can be stated that Universities are required to open mentoring programs and various language courses for international students. It is also vital to support them in enhancing their Korean writing and reading skills. These processes are expected to reduce the unemployment rate among educated Korean foreigners.