Job listings are displayed at a career development center at a university in Seoul, April 20. Yonhap
In a striking reversal of Korea’s long-held belief that a university degree guarantees better job prospects, college graduates in their late 20s are now facing higher unemployment rates than those with a high school diploma, government data showed Tuesday.
According to the Ministry of Data and Statistics, the unemployment rate for university graduates aged 25 to 29 stood at 7.7 percent in the first quarter, higher than the high school graduates’ 7 percent for the same age group.
This reversal first appeared in 2023 and has persisted for four consecutive years — the longest stretch since the agency began compiling the data in 2000.
The pattern seems to be unique to people in their late 20s, as university graduates still have better chances of landing jobs across nearly every other age bracket.
