S Korea's hiring from BD set to fall by half of quota

Arafat Ara
Labour migration to South Korea is set to fall by a half of the job quota this year amid the sagging demand for workforce from employers in that country, officials said.
South Korea has announced a quota of 11,500 jobs for Bangladeshi workers for 2024, the highest-ever. However, about 1,978 Bangladeshis have found jobs in that country in the first eight months of the year.
According to the officials, the quota will not be fulfilled, as the South Korean companies are placing demand notes for a lower number of jobs.
South Korea is one of the vital job markets for Bangladeshi semi-skilled and skilled workers. Bangladesh began sending semi-skilled workers to the country in 2008 under the employment permit system (EPS) that allows recruitments for the sectors such as motor vehicles, rubber, plastic, apparel, handicrafts and food.
Dr Mallick Anwar Hossain, managing director at the Bangladesh Overseas Employment and Services Limited (BOESL), said, "We've received a quota of 11,500 jobs from South Korea for 2024."
The job destination country cut hiring from all the source countries including Bangladesh, he said.
When asked, he said they were not informed about the reason for the sagging demand. The demand for labour in any country might decrease any time, he added.
"We still have four more months left, hopefully, we will see a sizeable rise in demand during the remaining period."
BOESL might be able to send 5,000 workers by the end of the year, he added.
A linguistic test is mandatory for going through the EPS system in South Korea. A worker's certificate is valid for two years after passing the test. About 16,000 qualified workers are now on the BOESL's roster.
South Korea, which employs semi-skilled workers from 16 countries through the EPS, announced the job quota in February this year. Like the previous year, it has set a quota of 100,000 workers from the source countries, according to the Bangladesh Embassy in Seoul.

Bangladesh was set a quota 10,000 jobs in 2023. But, it could send only 4,804 workers to the country.
The quota could not be fulfilled due to several factors such as negative perceptions about Bangladeshi workers due to their early job switch, the sluggish demand from South Korean employers, the absence of proper market promotion on the part of the Bangladesh side, lack of language efficiency and cultural issues, insiders have said.
According to a projection by the Korean National Statistical Office, the working-age population will drop to 51 per cent of the total population by 2050. The population aged 65 or older is expected to reach 40 per cent. So the country needs more foreign workers to meet the demand in different sectors.
A skilled worker earns Tk 180,000-200,000 in South Korea.
Shakirul Islam, chairman of the Ovibashi Karmi Unnayan Program (OKUP) says proper market promotion is necessary as South Korea is one of the important markets for semi-skilled and skilled workers.
He also emphasised the need for demand-based training for creating skilled workers. Bangladesh sent 1,645 workers to South Korea in 2019, 2,355 in 2018, and 1,786 in 2017. Only 141 and 111 workers were sent in 2020 and 2021 amid the COVID-19 pandemic. Bangladesh sent 5,891 workers to South Korea in 2022.
Bangladeshis staying in South Korea send remittances through banking channels. Data from the Bangladesh Bank showed the country received US$ 95.06 million in the July-April period of the FY24 from the Bangladeshis staying in South Korea. It received $118.69 million in FY23 and $135.46 million in FY22.
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