The Financial Crisis and Foreign Workers in Korea

In: Asian and Pacific migration journal: APMJ, Band 7, Heft 2-3, S. 219-233

Abstract

Since the financial crisis started, the employment situation in Korea has been worsening. In a span of six months, about one million people lost their jobs. By offering the amnesty program to undocumented foreign workers right after the IMF measures took effect, the Korean government revealed its view of foreign workers as a buffer against economic ups and downs. About one-third of the illegal workers left Korea under this program. However, many Korean firms are still having difficulties in hiring local workers for the jobs which were previously held by foreign workers. This indicates that the government should reconsider its position concerning the importation of foreign labor.