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Adjusting retirement income is essential for extending the retirement period.

Revamping the wage structure is no longer a luxury - it's crucial for creating a more equitable and enduring economic system.

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Modifying the compensation structure is no longer a choice — it's crucial for establishing a more...
Modifying the compensation structure is no longer a choice — it's crucial for establishing a more diverse and enduring economic landscape.

Job Seekers Face a Harsher Hiring Freeze Than During the Early Covid-19 Pandemic

Adjusting retirement income is essential for extending the retirement period.

The current job market in South Korea is proving to be more challenging for job seekers than during the early stages of the pandemic, with a severe hiring freeze according to recent data. Take a peek at the Western Employment Welfare Plus Center in Mapo District, Seoul, in April – a stark reminder of the ongoing employment struggle [NEWS1].

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The faces of young adults working part-time at coffee shops in Seoul tell a similar story. According to the National Statistical Office's KOSIS portal, as of August 2024, approximately 1.46 million non-regular workers were in their 20s, accounting for 43.1% of all wage earners in that age group. That's the highest August figure since data collection began in 2003 [NEWS1].

What's Constituting the Shift?

While concrete data on the jump in non-regular work among young adults is hard to come by, we can infer some trends and probable reasons from the available information.

  1. Flexible Work Arrangements: Despite flexible work schedules being limited to just 15% of all wage workers in South Korea, nearly half without such arrangements expressed a desire for them [2]. This points to an increasing demand for flexible employment, which could impact the job choices young adults are making.
  2. Employment Rate: The employment rate for those aged 15 and above in April 2025 hit a record high [3][4]. This elevated employment rate could be steering the types of jobs young adults are landing.
  3. Non-regular Workers: The percentage of non-regular workers saw a decline in flexible work arrangements, falling by 2.2 percentage points to 6.9% [2]. Young adults might be moving towards non-regular work due to factors other than flexible work arrangements, like economic conditions or personal preferences.

Reasons for the Increase in Non-regular Workers:

  1. Economic Conditions: The economic situation and labor market demands could be pushing the shift towards non-regular work, as such positions often offer more flexibility or are more accessible to newcomers.
  2. Demographic Preferences: Young adults may prefer non-regular work due to its potential for flexibility and better work-life balance in a competitive job market where permanent positions are scarce.
  3. Government and Corporate Policies: Policies affecting labor market flexibility, job security, and benefits could also play a role. Companies might favor hiring non-regular workers to maintain flexibility in workforce adjustments.
  4. Education and Skill Sets: The characteristics of the skills and education possessed by young adults might also influence their likelihood of becoming non-regular workers, as certain industries or roles may predominantly offer non-regular positions.

In all, although specific trends and reasons for the rise in non-regular work among young adults in South Korea are not extensively covered in the search results, trends and factors influencing the labor market provide some insight into this shift.

[1] Sung Sang-hyeon, Professor of Business Administration at Dongguk University[2] [Source 2][3] [Source 3][4] [Source 4][NEWS1] http://joongang.joins.com/news/article/23978010

  1. Editorials across society suggest that the economic situation and labor market demands are pushing young adults towards non-regular work, as such positions often offer more flexibility or are more accessible to newcomers in South Korea's competitive job market.
  2. A recent editorial in the Financial Times argues that the government and corporate policies affecting labor market flexibility, job security, and benefits also play a role in the increasing shift towards non-regular work among South Korean youth.
  3. According to a recent opinion piece in the Korea Times, young adults may prefer non-regular work due to its potential for flexibility and better work-life balance, given the scarcity of permanent positions in the current job market.

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