"Giving Up on Finding a Job in Korea"... Young People Heading Abroad
Number of Overseas Job Placement Applications Doubles in First Half of This Year
As Domestic Employment Difficulties Worsen, Overseas Employment Gains Ground
Low Job Stability but Attractive Compensation Packages
"Measures Needed to Prevent the Brain Drain of Domestic Talent"
[Edaily Reporter KIM EUNG-TAE ] #Mr. Kim (age 27), a resident of Seoul, has recently begun actively preparing for a career abroad by attending overseas job fairs. While finding a job in Korea is more advantageous in terms of job stability, he has concluded that joining a foreign company is a better option when considering salary, benefits, and work-life balance, given the high bar set by the domestic job market for highly qualified candidates. He plans to actively apply for remote work positions, which are less constrained by location. Job seekers examine job posting boards at a recruitment fair. (Photo = Yonhap News) As the domestic job market tightens, an increasing number of job seekers are turning their attention overseas. An analysis of “Overseas Job Applicant Data” provided by the HR tech platform Wanted Lab Inc.(376980)on the 20th revealed that the number of applications for overseas jobs submitted by job seekers in the first half of this year (January–June) reached 255, a 104% increase compared to the same period last year (125). Compared to the number of applications in the second half of last year (July–December 2025) (147 applications), this represents a 73.5% increase. Overseas jobs refer to positions directly recruited by foreign companies headquartered or operating overseas, rather than the Korean subsidiaries of foreign firms; industry analysts note that job seekers primarily applied to local companies in Japan and the United States. Job seekers have been actively pursuing overseas employment due to the worsening domestic job market. According to National Data, the number of employed youth (ages 15–29) continued to decline year-over-year in the first half of this year. The monthly declines were as follows: △175,000 in January △146,000 in February △147,000 in March △194,000 in April △255,000 in May △197,000 in June. One reason job seekers prefer working abroad is that foreign companies offer flexible work environments and better compensation packages, in addition to the opportunity to develop global competencies. Ms. Yoo (age 23), who is about to graduate, said, “In an era where personal competence and personal branding have become increasingly important, I think working abroad is a good option because it allows me to gain diverse experiences and learn new skills in the global market.” Foreign companies looking to expand their global operations are also showing a marked tendency to recruit Korean talent. As of the first half of this year, the number of job postings by foreign companies stood at 125, a 52.4% increase compared to the same period last year (82). Compared to the number of job postings in the second half of last year (65), this represents a 92.3% increase. Given this situation, companies are launching a series of services aimed at overseas employment. Wanted Lab Inc. launched “Global Membership,” which provides job matching and networking opportunities for job seekers interested in working abroad. YBM NET, Inc. unveiled the “Working Holiday Employment Insider” program last month, designed to help individuals expand their careers and secure employment overseas, starting with working holiday programs. However, concerns are being raised within the industry that a widespread exodus of domestic talent overseas could undermine national competitiveness. In particular, it is pointed out that for domestic ventures and startups—which are already facing labor shortages—this could lead to a vicious cycle of weakened technological competitiveness and declining corporate value. There are calls within the industry to relax regulations on compensation, such as stock options, to enable ventures and startups to secure top talent. The reasoning is that, given the limited financial resources typical of startups, conditions must be in place to attract talent through bold stock option programs. The CEO of one startup stated, “Currently, when startup employees exercise their stock options, they must pay income tax before they can even cash out, and because unlisted shares are difficult to sell, many end up forgoing the exercise of their stock options.” He added, “We need a flexible support system, such as deferring the timing of income tax assessment for stock option exercisers, or having the government reduce the company’s tax burden when the company purchases the shares exercised by employees.”
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