Korea Falls Behind Rivals in New Industries

Korea faces a serious labor shortage in new industries despite record high youth unemployment, a survey suggests.

The Korea Economic Research Institute on Tuesday said it surveyed policymakers at nine high-tech institutions who focus on future technologies like software, blockchain, robotics and drones and believe that the manpower shortage rate in these areas is 29.4 percent.

The worst shortage is in the drone technology sector with 55 percent, followed by 3D printing and robotics with 35 percent each.

Respondents said the competitiveness of workers in the sectors also lags behind the country’s rivals China, Germany, Japan and the U.S.

Assuming that Korea’s competitiveness is 100, they put the U.S. at 123.3, followed by Germany (114.4), Japan (107.8) and China (106.7).

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