Labor Crunch Threatens Manufacturing

Absence of migrant workers is slowing production.

Labor Crunch Threatens Manufacturing

Credit: Public domain.

South Korea’s vaunted manufacturing industries have been enjoying strong demand, but the lack of skilled laborers makes it difficult to take full advantage of the tailwind.

According to a May 29 statement by Korea Federation of Small and Mid-sized Enterprises 중소기업중앙회, small and mid-sized companies collectively were short 320k laborers.

The shortage is largely because of the absence of migrant workers. Due to travel restrictions from the pandemic, migrant workers - who make up 10% of workers at small manufacturing shops in the country - have stopped entering South Korea for the past several years.

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