Employment Structure in Korea: Characteristics & Problems (in Korean)

Keunho Jang ()
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Keunho Jang: Economic Research Institute, Bank of Korea

Economic Analysis (Quarterly), 2019, vol. 25, issue 1, 66-122

Abstract: As the Korean economy grew, employment expanded steadily, with the number of economically active people increasing and the employment-to-population rate also increasing. However, the working age population started to decline in 2017, and the employment of women and young people has been sluggish. The proportion of non-salaried workers in Korea is much higher than in other OECD countries, and is also excessive, considering Korea’s income levels. In addition, the proportion of non-regular workers and the proportion of workers employed at small companies are particularly high among salaried workers. In light of these characteristics of Korean employment, the urgent problems facing the employment structure can be summarized by the deepening dual structure of the labor market, the increase in youth unemployment, sluggish female employment figures, and an excessive share of self-employment. Overall, it is seen that labor market duality is the main structural factor of the employment problems in Korea. Therefore, in order to fundamentally address this employment problem, it is necessary to concentrate policy efforts on alleviating labor market duality.

Keywords: Employment structure; Employment-to-population ratio; Unemployment rate; Labor market duality (search for similar items in EconPapers)
JEL-codes: E24 J01 J21 (search for similar items in EconPapers)
Date: 2019
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