Percentage of younger employees drops at major Korean companies: report


According to a recent report by corporate analysis firm Leaders Index, major South Korean companies are experiencing a rise in the proportion of employees aged 50 or older, while the percentage of employees in their 20s is decreasing. The study, which examined data from 2021 to 2023 for 141 companies among the top 500 in terms of sales, found that the total number of employees at these companies increased from 1.38 million in 2021 to 1.42 million in 2023. This increase was seen across all three age groups—those in their 20s, those aged 30 to 49, and those aged 50 and over. However, there was a decline in the proportion of employees in their 20s from 23.4 percent of all workers in 2021 to 21.6 percent in 2023, while employees aged at least 50 increased from 20.6 percent to 22 percent during the same period. The report highlighted a notable shift in demographics within specific industries. For instance, the information technology and electronics industry experienced a 5.3 percentage point decrease in the youngest age group, from 34.2 percent to 28.9 percent. On the other hand, the food and beverages industry saw the steepest increase in terms of employees aged 50 and older, rising from 24.6 percent to 28.8 percent. This trend is reflective of South Korea's aging population, which has been an ongoing concern for the country, particularly in light of its consistently declining total fertility rate. As of April, South Korea achieved an average age of 45 for its citizens, marking a significant increase from the 39.7 recorded in 2014.


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