Causes Of Youth Unemployment In Korea

"You cannot get a job even though you graduated from Ivy League." It is a famous phrase that every Korean student knows and every teacher says. It reveals the exact situation of youth unemployment in Korea. Problems about jobless youths whose age are between fifteen to twenty-nine are global issues these days. And it is serious in Korea. Korea 's youth unemployment soared to its highest level on record, 12.5 percent, in February, 2016, and it keeps increasing since 2012 (Sun-young, 2016). Then why is this problem becoming severe? One of the reasons is that all people prefer to join big companies. This phenomenon appeared not only by a person 's emotion, but also by a system of companies. As there is a huge gap on wage and welfare between big …show more content…
Recently, students ' eyes are only to being hire to good companies. They never think about building their own firm. The number of enterprises existing is limited but the number of people who want to be employed is prospering year by year. If those young bloods try to realize their own ideas and become entrepreneur, the number of companies will naturally increase and they can also hire other workers. So it is killing two birds with one stone. Increase of number of business also means the range of business become more diverse and dynamic. If companies with creative ideas appear a lot, it will promote enhancement of national competitiveness. To actualize this solution, government should provide help in variety of ways. They have to provide support fund when people start their business, hold business fairs, and educate them to grow their entrepreneurship. Although they support people in many ways, there are hard points to be a businessman. Actually a lot of people are trying to start business. Sadly, it is really difficult to succeed. It is even hard to stay surviving before talking about success. A report published by the Institute for International Trade under the Korea International Trade Association (KITA) stated that the number of start-ups has steadily increased in Korea, but the sustainability of their businesses is still low. 59 percent of Korean start-ups close their doors after three years …show more content…
Since youths became hard to get a job, massive amount of highly educated students are wandering without work and getting out of their country. And because people want well-paid jobs from huge firms, small companies are collapsing. To resolve problems of jobless young people, average wage should be raised so that they can choose jobs regardless of money. Furthermore, government should encourage young bloods to start their own business with their own ideas by supporting them financially and technically. This problem must be solved earlier than any other social problems. Providing new energy to market is a first step to build up economy. There are already a lot of men of ability that Korean education system has fostered, and now it is turn to allocate those talents to right places in right moment. Now is the