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Foreign Workers in South Korea: Income and Employment Trends
According to a report recently released by Statistics Korea, “Immigration and Employment Trends in Korea in 2022,” the number of foreign workers is decreasing, the unemployment rate is decreasing, and the number of non-wage workers is increasing.
Decrease in Foreign Workers
In 2022, the number of foreign workers in Korea decreased by 12,000 (-1.4%) year-on-year to 843,000, but the employment rate increased by 0.6 percentage points to 64.8%.
Profile of Foreign Workers
As of May, the total number of foreign residents aged 15 and over in Korea was 1,302,000, a decrease of 30,000 (-2.2%) year-on-year. Of these, the economically active population was 880,000, a decrease of 30,000 (-3.3%) year-on-year, resulting in an economic activity participation rate of 67.6%. The majority of foreign workers are classified as international students, which increased by 19,200 (13.4%) to 162,600. Skilled workers increased by 1,700 to 41,700.
Decline in Selected Groups
On the other hand, the number of foreign workers with visitation employment permits decreased by 21.4% to reach 96,500, while foreign workers with non-professional employment permits decreased by 3.3% to reach 209,500. Notably, there was a decrease of 9,300 (-2.7%) in the number of employment permits for ethnic Koreans from China, who are often referred to as ‘Joseonjok’.
Income Distribution and Job Satisfaction
The report also examined the income distribution and job satisfaction of foreign workers. Among foreign workers, those earning less than KRW 3 million per month accounted for the majority, at 51.1% of the total. The number of foreign workers earning more than KRW 3 million per month increased by 61,200 to 301,000, a growth of nearly 10 percentage points.
When assessing job satisfaction, 53.3% of foreign workers said they were satisfied with their current income, a decrease of 4.8 percentage points over the past two years. The percentage of workers who said they were “neither satisfied nor dissatisfied” increased by 3.1 percentage points and 1.7 percentage points, respectively.
Unemployment Rates and Discrimination
The number of unemployed foreigners decreased by 32.2% to 36,800 and the unemployment rate decreased to 4.2%. The most common ways for the unemployed to find a job were through friends or acquaintances (49.2%), media advertisements (41.8%), and public employment agencies (27.2%). The report also highlighted that 20% of foreigners and naturalized citizens experienced discrimination, primarily based on their country of origin.
The current global situation, including the ongoing impact of the COVID-19 pandemic, has had consequences on the employment and income of foreign workers in South Korea. While efforts have been made to improve the conditions for foreign workers, there is still progress to be made in areas such as income inequality and job satisfaction.
Overall, this report provides valuable insights into the state of immigration and employment trends in South Korea, guiding policymakers and relevant authorities in recognizing and addressing the needs of foreign workers in the country.
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