Korea has developed rapidly last five decades and become one of the most advanced economies in East Asia along with Japan. Its rapid economic development is mainly based on export oriented industrial policy supported by an efficient human resource man...
Korea has developed rapidly last five decades and become one of the most advanced economies in East Asia along with Japan. Its rapid economic development is mainly based on export oriented industrial policy supported by an efficient human resource management and a strong education system. Successful economic growth generated globalization of Korean industries and its expansion has continued in the global markets. Since Korean industries have become globalized, migrant workers started to arrive in Korean labor market. In 2000, the total number of migrant worker accounted only for 300, 000. However, it increased up to 81,7000 in 2014 which is 273 percent increase within 14 years. Most of migrant workers are working in small and medium sized companies (SMEs) as irregular jobs with low wages although their wages in Korea are much higher than in their home nations. For them, Korean labor market is regarded as a Korean dream that enables them financial wealth for their future. At the same time, conflicts between indigenous and migrant workers exist due to job security particularly in irregular labor markets. This paper focuses on roles of migrant workers in the Korean economy and society. Moreover, it analyses the fundamental reasons why migrant workers pour to Korea in such a short period and which impacts of the migrant workers have created on Korean economy and society. Last, but not least, it compares situation and working condition of Korean migrant workers with other migrant workers in advanced countries.