"Late in the Second Half of the Year, It's Really Tough"... Youth Sighing Deeply

Uncertain Job Search in Second Half Due to COVID-19
More Than Half Find It Harder Than First Half
Shifting Careers to Public Corporations and Exams
"At Least They Offer Some Opportunities"

[Asia Economy Reporter Lee Jung-yoon, Intern Reporter Gong Byung-sun] Choi Yong-hyun (29, pseudonym), a fourth-year job seeker, plans to give up his dream of joining a large corporation after this second half of the year. Due to the novel coronavirus infection (COVID-19), the job market in the second half of the year has become even more restricted, leaving no hope. This second half of the year, he submitted applications to more than 25 companies, but received rejection messages from all of them. The employment situation has worsened compared to the first half, when he at least took three written exams. Choi said, "The job search in the second half is nearing its end, and since the COVID-19 situation does not seem to improve in the first half of next year either, I plan to revise my career path to get a job at a small or medium-sized company first and then change jobs."

As COVID-19 prolongs, the job market in the second half has tightened, increasing the sighs of job seekers. The employment difficulties from the first half have carried over, and the job market is already experiencing a 'cold wave.'

According to a survey by the Korea Economic Research Institute (KERI) on the 26th, job seekers complained that employment in the second half has become more difficult than in the first half. The survey, conducted among 4,158 students and graduates from four-year universities nationwide, showed that more than half, 56.8%, reported that the employment environment in the second half of this year has worsened compared to the first half. Only 1.6% said it had improved compared to the first half.

Hong Young-bin (28), who is applying to insurance companies, said, "About half of the insurance-related companies did not conduct hiring this year," adding, "I think it will be difficult to find a job this second half, so I also applied for a graduation deferment." Lee Mo (28), who dreams of becoming a finance professional, applied to six companies this second half but was rejected by all. He lamented, "I hoped the job market would improve after summer, but my hopes are gradually fading."

According to a survey by Saramin, a job matching platform, 50.3% of 197 companies postponed, reduced, or canceled hiring in the second half, and 19.8% completely canceled hiring for the second half. The biggest factor was the reduction in company sales.

As the economy heads toward deterioration, job seekers blocked from private sector employment are changing their career paths. Public corporation employment or civil service exams (Gongsi) are mainly chosen. Park Mo (28), who was preparing to join a large corporation, recently changed his goal to public corporations. Park explained, "In the case of large corporations, the scale of hiring in the second half has definitely decreased, so I did not even get a chance to take the exam," adding, "On the other hand, public corporations maintained their hiring scale or provided opportunities, so I changed my career path." A survey by JobKorea and Albamon targeting 1,962 university students and job seekers also showed that nearly half, 48.4%, intend to prepare for civil service exams in the future.

This content was produced with the assistance of AI translation services.