Promoting Dialogue and Understanding Between Korea and the United States
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December 15th 11:00am - 11:30am EST
YouTube & KEI Conference Facility
Here are some takeaways from the event:
Avoiding precarious and lower-paid jobs in small and medium-sized enterprises (SMEs) and as non-regular workers drive the zeal for higher education in Korea. Young people compete fiercely to enter good universities and land secure and attractive careers. In 2021, nearly three-quarters of high school graduates advanced to college or university. While the proportion of the 25-34 age group with university degrees in Korea is the highest among OECD countries, their employment rate is relatively low even as small firms confront serious labor shortages. The low youth employment rate has negative consequences for the young people concerned, including possible long-term scarring effects, and reduces family formation and life satisfaction. Moreover, it is damaging for the Korean economy, which faces the most rapid population aging among OECD countries. Low youth employment is due to a mismatch between education and the labor market, reflecting a large skill gap between highly-educated youth and older workers retiring from jobs that require less human capital. Dualism in the labor market (between regular and non-regular workers) and the product market (between small and large firms) encourages young people to queue for jobs in large firms and the public sector. Raising the youth employment rate requires breaking down dualism while reforming the education system.
Please join KEI for a discussion with Randall Jones, previously the head of the Japan/Korea Desk at the Organization for Economic Cooperation and Development (OECD), on the youth employment chapter of the 2022 OECD Economic Survey of Korea.
You can read Dr. Jone’s chapter of the OECD Economic Surveys: Korea 2022 here – Policies to Increase Youth Employment in Korea
This event will be a hybrid with a limited in-person audience.
If you would like to attend in person – please RSVP here (KEI)
To join us virtually via YouTube – please RSVP here (YouTube Live)