Overview

• Only 101,000 new semiconductor workers are expected by 2031 under current policies, leaving Korea 50,000 below its original goal and 81,000 shy of actual demand
• The Trade Ministry’s 2022 forecast excluded replacement needs from retirements and exits, producing a 42% underestimation of total workforce requirements
• The Education Ministry’s plan counted retraining of existing employees as new supply, inflating its projection by about 50,000 potential entrants
• The Board of Audit and Inspection calls for immediate revision of workforce forecasting models to align projections with real demand and attrition data
• Industry experts stress that competitive compensation, regulatory flexibility and deeper public-private partnerships are essential to attract and retain semiconductor talent