South Korea

Chosun Ilbo | English | News | Dec. 12, 2025 | UndeterminedUnemployment

Unemployment among South Koreans in their 30s surged by 29.7% year-on-year, reaching 164,000 in November, according to the Ministry of Data and Statistics. This marks the fourth consecutive month of rising unemployment in this age group, with the latest increase being the largest since January 2021. The unemployment rate for those in their 30s rose by 0.7 percentage points to 2.9%, while rates for those in their 50s and 60s declined. The youth unemployment rate (ages 15–29) remained steady at 5.5%, though employment among this group decreased by 177,000 compared to the previous year.

The employment situation is worsening due to a prolonged economic slowdown, weak domestic demand, and the adoption of AI technologies, which have reduced hiring particularly in manufacturing and construction sectors. The number of 'inactive' individuals—those not working or seeking work—in their 30s reached a record high of 314,000 in November, contributing to a record total inactive population of 2.54 million across all age groups. Youth employment has been declining for 19 months, with the 20s age group's employment rate falling below that of those in their 60s, indicating a severe labor market imbalance.

The economic slowdown has led companies to cut investment and hiring, fueling a cycle of reduced consumption, further impacting job availability. Rising living costs and interest burdens add to household financial pressures. In response, the South Korean government plans to launch new youth employment measures as part of its 2026 economic growth strategy to address these challenges and support the inactive youth population.

경영공백 5개월 못 참아…KAI 노조 "수출입은행장, 즉각 사장 임명하라"

Digital Daily | Local Language | News | Dec. 12, 2025 | Strikes and Work Stoppages

The Korea Aerospace Industries (KAI) labor union held a rally on December 10 in front of the Export-Import Bank of Korea headquarters in Seoul, demanding the immediate appointment of a KAI president after more than five months of vacancy. Around 100 senior executives participated in the protest, emphasizing the urgency of resolving the leadership gap. The Export-Import Bank of Korea, which holds a 26.41% stake in KAI and is majority government-owned (76.38%), plays a key role in appointing KAI’s president, a role heavily influenced by government personnel decisions despite KAI not being a public enterprise.

Former KAI president Kang Gu-young, who resigned in July, was closely associated with the Yoon Suk-yeol government. Kang stepped down following the inauguration of President Lee Jae-myung, signaling a shift in leadership aligned with administrative changes. The union criticized the repeated upheaval in KAI leadership linked to presidential administrations and called for a consistent, professional, and non-politicized selection process to safeguard national strategic projects and industry competitiveness.

Kim Seung-gu, chairman of the KAI labor union, urged the Export-Import Bank to disclose clear criteria for selecting the president and to make the appointment procedures transparent. The process involves a nominating committee, board resolution, and shareholders’ meeting approval. With Hwang Ki-yeon appointed president of the Export-Import Bank in November, the union stressed that the KAI presidential appointment process should no longer be delayed. The union warned that unless the Export-Import Bank assumes responsibility and acts promptly, their protest actions will continue.

Yonhap | English | News | Dec. 12, 2025 | UndeterminedBizdev-Partnering

South Korea's Navy recently hosted a Canadian submariner aboard its 3,000-ton submarine, ROKS Ahn Mu, during a six-day anti-submarine warfare exercise near Guam. This was part of the Silent Shark drills, a joint exercise with the United States, and marked the first time a foreign submariner boarded South Korea's homegrown 3,000-ton submarine. Previously, foreign submariners had only trained alongside South Korean forces on smaller submarines.

This event aligns with South Korea's efforts to secure a significant defense export contract under the Canadian Patrol Submarine Project. Canada plans to acquire up to 12 submarines to modernize its fleet, aiming to receive the first new vessel by 2035. Hanwha Ocean Co., a South Korean defense firm, is among the two preferred bidders for the contract, competing against Germany's ThyssenKrupp Marine Systems.

The visit symbolizes growing naval cooperation between South Korea and Canada amid this export bid. Additional related activities include commitments to arms cooperation with Poland and planned meetings between South Korean and Canadian naval chiefs to discuss maritime security and defense collaboration.