South Korea's semiconductor boom has not translated into better job prospects for young people, a Bank of Korea report said on October 26. The report found that many young workers have been pushed into temporary and daily work in the secondary labor market since the pandemic, while the quality-of-employment index for young people stood at 94.7 points from 2023 onward, compared with 104 points for other age groups.
It attributed the gap to industrial restructuring centered on information technology, a rigid labor market, shrinking demand for some existing roles as AI spreads, and employers' preference for experienced hires. The bank called for more flexible labor conditions and more opportunities for young people to build practical skills in AI-related work.