Korea provides a highly skilled workforce, many of whom have a college degree or higher.
Korea is passionate about education and has a high college graduation rate.
This rate in the 25-34 age group is 66%, the highest among OECD nations.
OECD top-5 college graduation rate in 25-34 age group
* Source : OECD "Education at a Glance 2015"
More than 400,000 Koreans work in the field of R&D, which means there are 16.8 researchers for
every 1,000 people in Korea’s economically active population.
Growth in Korean R&D workforce
|Personnel per 1,000 people in economically active population||6.2%||6.7%||8.3%||9.7%||10.7%||11.3%||12.4%||12.4%|
* Source : Ministry of Science, ICT and Future Planning
Low labor turnover rates & high labor productivity
Korea has a significantly lower labor turnover rate than do China and India. This combination of
low turnover and industriousness is why Korea’s manufacturing labor productivity has risen faster than any other country’s over the past decade.
Labor turnover rates (2012-2014)
* Source : The Economist Coporate Network "Asia Business Outlook Survey 2015"
Manufacturing sector labor productivity gains (2006-2015)
* Source : Government agencies for employment, The Conference Board, International Labor Comparison Program