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Describe the Unemployment Crisis in South Korea.

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´╗┐Colin Shin Ms. Turnbeaugh 13 September 2012 English 11A Unemployment Crisis for Young Ones Over the past five decades, South Korea has developed into a strong nation financially and has become one of the G-20 countries with high economic growth potential and stability. It?s hard to believe that it has only been about sixty years since the Korean War. Since then, Korea has flourished in many different areas of business and has developed a huge economic market worldwide. Top leading companies including Samsung, Hyundai, LG, SK and Posco influence Korean economy. Then, why is the unemployment rate still so high, especially for young college graduates? In his book, Cheol Soo?s Thoughts, Professor Cheol Soo An explains that if there are 20 million workers looking for opportunities, then, there are only 2 million actual job opportunities out there, which only makes up to be about 10% of the total available working force. ...read more.


Then, what happens to those who don?t make it to these big conglomerates? Some of them take second choice jobs or some of them end up waiting around for next hiring phase or some of them end up going back to schools to get higher degrees. Korean society focuses so much on education that many of these young workers are over qualified, and they only look for jobs which would fulfill their pride and self-esteem. Therefore, the young ones with fewer credentials would have less chance of being hired. To be honest, there is no easy way out to resolve the current unemployment crisis for young people. Perhaps, a quick solution would be to create jobs at least 5 times the current labor capacity. ...read more.


Increase the number of special internship programs and part-time work experiences before the actual hiring. 2. Focus on individual talent and ability rather than just the educational background. 3. Provide job training and job counseling service to help young people find jobs. 4. Create more jobs that are specialized and individualized. 5. Encourage employee?s ability to actively participate in the work force. One news report said that in a normal Korean class, all students are intelligent when answering given questions about a certain subject. However, when asked to make a thought-intriguing question, many couldn?t come up with a question since their creativity has been all drawn out. Therefore, in order for Korea to decrease the unemployment rate for young people, we should value our ability, creativity, and individuality as well as our differences. ...read more.

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