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.

꿈의 에너지 '인공태양' 연구시설 나주 최종 확정…'글로벌 핵융합 에너지 선도도시' 도약

ET News | Local Language | News | Dec. 12, 2025 | UndeterminedEnergy Prices

Naju City in Jeollanam-do has been officially selected as the site for South Korea's national artificial sun research facility, a core project aimed at advancing nuclear fusion technology. The facility, regarded as a breakthrough energy source that is infinite, clean, and safe, aligns with the country’s goal to become an energy self-reliant nation. The final decision followed the dismissal of an objection from Jeonbuk Province and confirmed Naju’s status after a national competition led by the Ministry of Science and ICT.

Naju was rated "very excellent" by the National Research Foundation of Korea for its optimal conditions, including safety from natural disasters, stable granite-based geography without earthquakes, and strong research infrastructure linked to Korea University of Energy and Technology (KENTECH) and Gwangju Institute of Science and Technology (GIST). The city's strategic location also offers convenient transportation access via KTX Naju Station and Muan International Airport.

Key to Naju’s successful bid was broad community support, including 120,000 local signatures, active promotion committees, and backing from regional lawmakers. Since early administrative efforts, Naju secured a 49.5 billion won project related to superconducting conductor testing for fusion reactors, reinforcing its leadership in fusion research infrastructure. Collaborative efforts involved government, industry, academia, and research institutions to elevate the artificial sun research facility as a national priority.

The facility, with a planned investment around 1.2 trillion won, is slated for construction starting in 2027 and completion by 2036 near the Naju Energy National Industrial Complex. It is expected to spur significant economic and industrial growth, attracting about 300 companies, creating 2,000 specialized research jobs, over 10,000 total jobs, and generating economic benefits exceeding 10 trillion won. Naju plans to expedite follow-up actions, including feasibility studies and formal agreements with government entities, to support the project’s development and elevate the city as a global leader in fusion energy.

Yonhap | English | News | Dec. 12, 2025 | Supply Chain Issues

Senior diplomats from South Korea and the United States held the 10th Senior Economic Dialogue in Washington on December 10, focusing on enhancing economic security and securing "trusted" supply chains. The talks followed a bilateral trade and investment agreement finalized during President Lee Jae Myung and U.S. President Donald Trump's summit in late October. Both parties emphasized the need for joint economic security measures and discussed strengthening economic and national security alignment to maintain collective competitiveness and secure supply chains.

The two countries explored cooperation to address unfair trade practices and non-market policies, with particular attention on collaboration regarding critical minerals. U.S. official Jacob Helberg praised South Korea's leadership on resilient supply chains in regional and multilateral forums. The dialogue reaffirmed commitments made during summits in August and October, which have contributed to modernizing the U.S.-ROK Alliance.

Under the trade and investment deal, South Korea pledged to invest $350 billion in the U.S., including $150 billion in shipbuilding and another $200 billion in other sectors. In exchange, Washington agreed to reduce reciprocal tariffs on Korean goods from 25 percent to 15 percent. The State Department described the agreement as central to progress in reciprocal trade, energy security, shipbuilding, and emerging technologies. Discussions also covered South Korean investments in American manufacturing and efforts to facilitate Korean business travel to the U.S.