Korea to Face Labor Shortages By 2020
kpride, Dec. 1, 2014, 11:11 a.m.
Researchers predict a labor shortage in the next decade as members of the baby boom generation leave the workforce. Koreans born between 1955 and 1963 number more than 7 million, or 15 percent of the total population, according to a report released Sunday by the Hyundai Research Institute. The report also predicts a sharp increase in the number of low wage, low skill jobs and those in the service sector. Students will be more likely to work while in school as more opportunities open up.