SHORTAGE OCCUPATIONS IN SOUTH KOREA

The Republic of Korea is a very developed country (one of the four "Asian Tigers") with a large economy and a strong labor market. Comfortable conditions are created here not only for employees, but also for entrepreneurs from abroad. Doing business in South Korea today is very profitable, as evidenced by the fifth place in the prestigious ranking of the agency Doing Business.

Work and life in South Korea attracts more people from the Asian region, but very often in this country come and applicants from European countries. Foreigners usually seek work in Seoul, the capital and the country's largest city, which offers great prospects for migrant workers. Let's find out what professions are in demand in South Korea in 2020.

South Korea

Labor Market in South Korea

Unemployment in South Korea does not exceed 4%. Nevertheless, the situation on the Korean labor market is alarming to local experts, who point to the largest increase in the number of unemployed people since the global financial crisis. Employment in retail trade and manufacturing has dropped markedly. At the same time, new jobs are being created in agriculture, construction and transportation.

Official employment in South Korea includes a number of prerequisites. In particular, a foreigner must find an employer in advance, sign an employment contract, and open a work visa. In general, the Korean immigration system includes 36 types of visas, 9 of which are related to employment or business. Of course, in order to successfully obtain a work visa, a foreigner's profession must be in demand in South Korea.

The national minimum wage in South Korea in 2020 is 8,590 won per hour, the equivalent of 7 U.S. dollars. With full-time employment, a worker should earn at least 1,795,310 won ($1,480) each month. The average salary is in the neighborhood of 48,040,020 won per year ($39,660), which is 4,003,335 won per month ($3,305). The highest paid professions in South Korea are related to medicine. For example, dentists earn an average of $62,000 per year.

The most demanded professions in South Korea

The most demanded professions in South Korea for foreigners are associated with the automotive industry, electronics manufacturing, computer programming, shipbuilding, finance, education and the service sector (tourism/entertainment).

Handymen, farm hands, seafood processors, translators, English teachers at South Korean universities and private schools are often in demand. Girls can find jobs as models, dancers and hostesses.

SHORTAGE OCCUPATIONS IN SOUTH KOREA – LIST

Occupation
1 Engineer (electrician/mechanic/electronics technician)
2 Master craftsman in car industry and shipbuilding
3 Model/hostess/dancer
4 Teacher in Vocational School
5 Computer programmer
6 Professional athlete
7 Interpreter
8 Tutor
9 Builder
10 English teacher

Note. The information is based on data from Korean and international recruitment agencies.

In conclusion, it should be noted that living in South Korea is very expensive. This applies both to the cost of real estate, and to the prices of food and services. For example, according to numerous ratings, Seoul is among the top 10 most expensive cities in the world to live in. It should not be forgotten that the business environment in this country is very specific and not every European is able to adapt to the local working conditions.

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