Ko, 23, a student at Konkuk University, has started preparing for jobs. Ko recently applied for the university's "free job consulting." The expense of taking TOEIC and earning certifications alone was already a heavy burden.
Ko said, "I expected it would help with employment since an older schoolmate serves as a mentor," adding, "above all, the fact that it was free was attractive."
More students are seeking on-campus job support programs. As the job crunch coincides with a surge in job preparation expense, it appears more students are turning to "free" programs.
As of the 28th, according to the university community, applicants for Korea University's employment programs totaled 23,638 last year. That was about a 46.2% increase from 16,165 in 2021. Applicants for the mentoring program linked to working alumni nearly quadrupled over the same period, from 597 to 2,333.
Korea University's Office of External Affairs said, "Most job support programs are provided free of charge," adding, "demand for one-on-one mentoring has been steadily rising recently."
Sungkyunkwan University also saw applicants for job programs reach 19,775 last year, up more than 20% over three years. Applicants for online mentoring, which offers one-on-one tailored counseling with current employees, also rose more than 90% over the same period, from 418 to 798.
With job preparation expense surging, more students appear to be seeking free on-campus programs. According to a survey conducted recently by the Education Spring Foundation with JOBKOREA of 485 college job seekers, last year's private education expense for employment averaged 4.55 million won per year. That was about double the 2.27 million won found in the 2022 survey.
The item incurring the highest expense in the job preparation process was test fees for English exams such as TOEIC (56.7%). That was followed by obtaining non-major certifications (37.0%), acquiring specialized IT/computer skills (32.7%), and job consulting such as resume and personal statement editing (17.8%). In addition, 71.1% of respondents said they experienced financial difficulties during the job preparation process.
A person surnamed Park, 25, who postponed graduation for a year to focus on job preparation, said, "With the mindset of cutting any money I can, I'm getting as much help as possible by joining not only on-campus job programs but also job clubs and academic societies."
The fallout from a worsening job market is also significant. According to the "June employment trends" that the Ministry of Data and Statistics (MODS) released this month, the employment rate for young people ages 15 to 29 was 43.9%, marking a decline for 26 consecutive months. The number of employed people in their 20s also fell by 199,000 from the same period a year earlier.
Yu, 30, a Konkuk University graduate working at Samsung Electronics, said Yu felt a desperate mood while taking part in mentoring at the alma mater recently. Yu said, "Students tried to participate actively in employment-linked programs," adding, "I could feel just how much more difficult it has become to get a job."