S. Korea to unveil measures to fill job openings in vulnerable sectors

South Korea plans to announce additional measures next month to help industries facing labor shortages fill job vacancies, the finance ministry said Wednesday.

The move came as some 216,000 job openings remained vacant in April, according to the Ministry of Economy and Finance, amid the country's falling unemployment rate.

"Along with customized measures for each sector, we plan to beef up employment services, apply flexible rules to utilize the foreign workforce, improve the working environment at small- and medium-sized firms and revamp policy measures," First Vice Finance Minister Bang Ki-sun said during a meeting.

The government also decided to expand the list of sectors experiencing labor shortages, encompassing four additional industries, namely construction and shipping, alongside the existing six categories.

In March, South Korea decided to grant longer stays for foreign employees with E-8 visas, primarily issued to seasonal workers for local farms. Additionally, holders of F-4 visas, provided to individuals of Korean ethnicity, were given permission to work across a broader range of industries.

Bang said South Korea's job market is projected to maintain its stability in the future, despite the anticipated slowdown resulting from sluggish exports and reduced facility investment, which have affected the manufacturing sector.

In May, the number of employed people came to 28.83 million, up around 351,000 from a year earlier. South Korea's on-year job additions had been slowing for nine consecutive months through February, before rebounding in March, when they rose 469,000 on-year.

"Considering the base effect after the country added 935,000 jobs (in May) last year, along with the slowing population growth, (the latest job report) shows very healthy figures," he added. (Yonhap)