According to a recent report released by the South Korean National Statistical Office on Tuesday, March 18, the employment rate for foreign residents in the country stood at 64.7% in 2024. Out of a total of 1.56 million foreign residents aged 15 and above, 64.7% were employed, 3.9% were unemployed, and 31.4% were not economically active.
Employment Trends Among Foreign Residents
In terms of the industries where foreign residents are employed, Xinhua News Agency noted that the largest proportion, at 45.6%, worked in the mining and manufacturing sectors. This was followed by 18.9% in the wholesale and retail trade, accommodation, and food services sectors, and 14.2% in private businesses or public institutions. Additionally, 10.6% were employed in the construction industry, while 8.3% worked in the agriculture and fisheries sectors.
Salary Insights
The report also provided insights into the salary ranges of foreign employees. A significant proportion, at 51.2%, had average monthly salaries ranging between 2-3 million won (approximately 46,300-69,400 THB), while 37.1% earned more than 3 million won (around 69,400 THB) per month. These figures offer a glimpse into the economic integration and contributions of foreign residents in South Korea’s workforce.
The data reflects the diverse roles that foreign residents play in the country’s economy, from manufacturing and construction to service-oriented sectors. As South Korea continues to navigate its demographic and economic challenges, the employment trends and contributions of its foreign resident population will remain a critical aspect of its socioeconomic landscape.