WEF "23% Change in Korean Jobs Expected Over the Next 5 Years"

The World Economic Forum (WEF) forecasted that 23% of jobs in South Korea will undergo changes over the next five years due to the adoption of new technologies and companies' transition to green energy.

On the 2nd (local time), WEF predicted in a recently published report that the job turnover rate in South Korea will reach 23% by 2027. This report is based on a survey conducted by WEF targeting over 800 companies across 45 countries worldwide.

The report anticipated that the global job turnover rate will approach 25% over the next five years due to the adoption of new technologies such as artificial intelligence (AI) and companies' transition to eco-friendly energy. South Korea is expected to experience a similar scale of change.

The report projected that the global industry will create 69 million jobs by 2027 while 83 million jobs will disappear. Jobs primarily involving reasoning, communication, and decision coordination are expected to vanish due to AI technology application, whereas jobs in fields such as big data analysis and cybersecurity are expected to increase.

Green energy transition and supply chain reshoring (the return of overseas enterprises to the domestic market) were also cited as factors increasing volatility in the employment market. Among the surveyed South Korean companies, 72% expected that investments in green energy transition would increase job growth in that sector.