Semiconductor industry in dire need of workers as graduates move to other fields

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Semiconductor industry in dire need of workers as graduates move to other fields

Published: 08 Oct. 2024, 17:52

LEE TAE-HEE
lee.taehee2@joongang.co.kr

Students learn how semiconductors are manufactured at a lab at Seoul National University [YONHAP]

Korea needs more people in the semiconductor industry, and students graduating from semiconductor programs only to end up in different fields isn't creating good prospects for the economy.

Of the 1,748 students that graduated from semiconductor programs between August 2021 and February 2022, 1,198 were working as of December 2022.

Among those employed, 76.9 percent, or 801, were working in non-semiconductor fields, with only 33.1 percent working in the semiconductor field.

The Education Ministry compiled statistics of graduates from the semiconductor programs of 50 universities, with data announced by the office of Rep. Lee Jun-seok of the Reform Party on Monday. This is the first time such data was announced.

Of the graduates working in semiconductor fields, 66 percent graduated from two-year degree programs at vocational universities. Another 23.3 percent graduated from a four-year bachelor's program and 10.7 percent from graduate schools.

Although small in number, those who finished graduate school had the highest employment rate, at 53.1 percent. Vocational university graduates had an employment rate of 30.9 percent and bachelor's degree holders had an employment rate of 30.1 percent.

"Employment rates of those who graduated from two or four-year degree programs can be affected by the semiconductor industry's outlook, but still, companies are struggling to recruit top R&D talent because there's simply not enough available," said Ahn Ki-hyun, executive director of the Korea Semiconductor Industry Association. "There's a growing demand for those with master's or doctorate degrees, but there's a limited number of students graduating from recognized educational institutions."

The labor shortage problem isn't going anywhere soon.

According to the Korea Semiconductor Industry Association, there were 177,000 people working in the local semiconductor industry in 2021. Around 304,000 will be needed in the industry by 2031, with Korea needing 54,000 more people to fulfill labor demand.

"The government has been increasing universities' admissions quota for semiconductor programs and working on creating small colleges that have semiconductor education," said Rep. Lee. "But the government hasn't been able to accurately analyze the low employment rate of semiconductor graduates and is just coming up with solutions that aren't practical."

"We need specific plans and incentives that can address the lack of semiconductor talent and foster more professionals."

Some are turning to international students to fight the labor shortage.

The Korea SMEs and Startups Agency and the Korea Fabless Industry Association signed a memorandum of understanding in September to train semiconductor talent. The two parties agreed to connect international students that studied semiconductor design to jobs at local companies.

Samsung Electronics' Device Solutions Division also hosted its annual Tech & Career forum at six universities in August, setting up consulting booths for international students to recruit foreign talent. The company also annually opens positions for foreign nationals through a separate recruitment track.

BY LEE CHANG-HOON, LEE TAE-HEE [lee.taehee2@joongang.co.kr]