College Graduate Employment Rate Falls Back to the Sixty Percent Range Amid Economic Slowdown, While International Student Employment Rises

The employment rate of university and graduate school graduates declined back into the sixty percent range last year amid an economic downturn, while the employment rate of international students rose sharply, surpassing thirty percent.

According to the Ministry of Education, the National Data Policy Agency, and the Korean Educational Development Institute, the employment status of 634,904 graduates from higher education institutions nationwide—who completed their studies in August 2023 and February 2024—was analyzed as of December 31. The findings were released on December 29 as part of the annual survey on graduate employment statistics.

Among university and graduate school graduates nationwide, 377,120 individuals were employed, accounting for 69.5 percent of those eligible for employment. This marked a decrease of 0.8 percentage points compared with the previous year, when the employment rate exceeded seventy percent for the first time.

By institution type, graduate schools recorded the highest employment rate at 82.1 percent, followed by junior colleges at 72.1 percent, general universities at 62.8 percent, and colleges of education at 60.5 percent. Employment rates declined across all institution types, with general universities experiencing the largest decrease.

By academic field, employment rates were highest in medicine and healthcare, followed by education and engineering. Fields such as social sciences, arts and physical education, natural sciences, and humanities recorded rates below the overall average. Regionally, institutions located in the capital area showed higher employment rates than those in non-capital regions, and the employment gap between regions persisted.

The survey also found a gender employment gap, with men recording a higher employment rate than women, although the difference narrowed compared with the previous year.

In contrast, employment outcomes for international students improved significantly. The number of international graduates increased compared with the previous year, and their employment rate rose to 33.4 percent, up sharply from the year before. The Ministry of Education attributed this increase in part to improvements in data accuracy following revisions to relevant regulations, which allowed the use of foreign registration numbers and the linkage of national public big data for the first time.

Regarding income, the average monthly salary of general university graduates was reported at approximately 3.15 million won, an increase from the previous year. Graduate degree holders earned higher average monthly incomes, with master’s and doctoral graduates recording substantially higher figures.

Small and medium-sized enterprises accounted for the largest share of graduate employment, followed by nonprofit organizations, large corporations, and public sector positions. The proportion of graduates employed by large corporations increased compared with the previous year.

The Ministry of Education stated that the detailed results of the employment statistics survey will be made available through official government and educational data platforms, enabling broader public access and use. Officials noted that the data will serve as a key reference for analyzing employment pathways of young people after graduation and for developing effective youth employment policies.