A job seeker seems to be over employment-related paperwork in entrance of a job listings board on the Seoul Western Employment Welfare Plus Heart in Mapo District, Seoul, Dec. 10. Yonhap
Even Korea’s most prestigious humanities-track skilled licenses — lawyer, licensed public accountant and tax accountant — are now not a secure path to employment, as oversupply and speedy advances in synthetic intelligence squeeze entry-level hiring.
Kim, 29, who started making ready for the CPA examination in his fourth yr of college, lastly handed final yr after 4 years of examine. However greater than a yr later, he’s nonetheless unemployed. To work as a licensed accountant in Korea, candidates should full at the very least one yr of sensible coaching at an accounting agency or comparable establishment. Kim stated he utilized to greater than 30 companies and was rejected by all of them.
“A whole lot of individuals apply for positions that take only one or two trainees,” Kim stated. “Getting employed as a trainee accountant feels a lot more durable than passing the examination itself.”
As job prospects for arts graduates proceed to deteriorate, even those that cross what are sometimes referred to as the “large three” humanities skilled exams — legislation, accounting and tax — are discovering themselves at a profession useless finish. Business consultants level to a rising mismatch between provide and demand, mixed with synthetic intelligence (AI) techniques more and more changing duties as soon as dealt with by junior professionals.
In keeping with the Korean Institute of Licensed Public Accountants, of the 1,200 individuals who handed the CPA examination this yr, 443 — or 39.6 p.c — had not been assigned to a coaching establishment as of late October. The determine excludes those that entered navy service or returned to high school. As issues over so-called “unassigned accountants” develop, the Monetary Companies Fee has begun discussions on easing coaching rules and increasing eligible establishments.
Tax accountants face the same actuality. Though their necessary coaching interval is comparatively brief at six months, competitors stays fierce. These unable to safe placements at non-public companies might practice at native tax workplaces, however such positions are unpaid and sometimes contain routine civil criticism dealing with, providing restricted skilled growth.
Kim, 28, a trainee tax accountant, stated he utilized to greater than 130 tax companies and workplaces with out success. “If this retains going, I’ll don’t have any selection however to go to a tax workplace, even when it’s unpaid,” he stated.
Legal professionals, as soon as seen as nearly assured employment, are additionally struggling. Of the 1,744 individuals who handed this yr’s bar examination, solely 28 p.c secured positions at main legislation companies, turned public prosecutors, or have been appointed as court docket analysis judges. The remaining 1,251 largely compete for jobs at small and midsize companies or company authorized groups, the place competitors is intense. Many proceed job looking whereas attending coaching packages run by the Korean Bar Affiliation.
“It’s not the job I dreamed of as a pupil, however given the job market, I’m simply grateful to have a spot to go to work,” stated Jung, 27, who discovered work at a small nonprofit group.
With entry-level demand shrinking, calls are rising to regulate the variety of examination passers. Jung Hyuk-joo, spokesperson for the Korean Bar Affiliation, stated AI now handles duties comparable to drafting preliminary authorized paperwork, reviewing authorized theories and looking case precedents, decreasing the necessity for trainee legal professionals. Kim Beom-jin, a professor of accounting on the Catholic College of Korea, stated main accounting companies have closely invested in AI techniques for reconciliation and verification work, reducing again on new hires.
Regardless of this, curiosity in skilled licenses stays robust. Knowledge from the Human Assets Growth Service of Korea present that from 2023 to 2024, first-stage examination candidates elevated by 11.7 p.c for legal professionals, 6.1 p.c for accountants and 33.5 p.c for tax accountants. Applicant numbers this yr have remained at comparable ranges.
Lee Byung-hoon, a sociology professor at Chung-Ang College, stated the development displays desperation reasonably than optimism. “The phrase ‘mun-song-hamnida,’ that means ‘sorry for being a humanities main,’ exists for a motive,” he stated. “College students in humanities and social sciences cling to skilled exams as a lifeline. Society wants to search out methods to guard younger folks going through job insecurity pushed by structural change.”
This text from the Hankook Ilbo, the sister publication of The Korea Instances, is translated by a generative AI system and edited by The Korea Instances.
