Cho Min-kyong boasts an engineering degree from one of South Korea's top un...
SEOUL - Cho Min-kyong boasts an engineering degree from one of South Korea’s top universities, a school design award and a near-perfect score in her English proficiency test.
“It’s not that I wasn’t good enough. There are just too many job seekers like me, that’s why everyone just fails,” said the 27-year-old, who now works in Atsugi, an hour southwest of Tokyo, as a car seat engineer for Nissan.Facing an unprecedented job crunch at home, many young South Koreans are now signing up for government-sponsored programs designed to find overseas positions for a growing number of jobless college graduates in Asia’s fourth largest economy.
“Brain drain isn’t the government’s immediate worry. Rather, it’s more urgent to prevent them from sliding into poverty” even if it means pushing them abroad, said Kim Chul-ju, deputy dean at the Asian Development Bank Institute. The top 10 conglomerates including world-class brands such as Samsung and Hyundai, make up half of South Korea’s total market capitalization.
“South Korea is paying the price for its overprotection of top-tier jobs and education fervor that produced a flood of people wanting only that small number of top jobs,” said Ban Ga-woon, a labor market researcher at state-run Korea Research Institute for Vocational Education & Training.
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