This study investigates the wage determination process of regional labor markets in order to understand the regional dimension of labor market processes in Korean metropolitan cities. Since the financial crisis in late 1997, the interplay between labo...
This study investigates the wage determination process of regional labor markets in order to understand the regional dimension of labor market processes in Korean metropolitan cities. Since the financial crisis in late 1997, the interplay between labor market restructuring such as unemployment and skill polarization and income disparity has been shaped by the labor market process in the metropolitan cities. This is also closely related to the fact that both industrial restructuring and expanding information technologies in the metropolitan region have reshaped the labor demand structure and finally resulted in structural unemployment due to skill mismatch and spatial mismatch and wage inequality across different occupations. In addition, since wage determination process clearly has a regional dimension, wage determination and its influence on income profile in a certain regional labor market need to be understood by investigating its labor market characteristics including labor supply and demand structure, industrial changes, changing unemployment, etc. This is why labor market policy as a regional policy needs to be redefined and it can be much enhanced by geographical investigation on regional labor market.