Here are several reasons as to why I believe south korean youths are unemployed:

1 These kids get their english literature/japanese language/art degrees from "semi-prestigious" schools in seoul or wherever, and expect to be employed, while having none of the skills needed for the workplace. Literally, around 80% of the kids I've seen with these useless degrees are either unemployed, or working shitty jobs that they hate as secretaries, working part time, etc. These kids talk a lot about hell choseon and tell me that I was soooooo lucky to be born in another country, and how their dream is to move and live in another country.

All STEM majors I've met/talked to on the other hand have done pretty well. I've never seen an unemployed stem major. They may not like their work conditions, or their promotion options, but these kids have skills needed by employers, and their pays aren't too bad for korean standards. Even those who went to a 2 year college, or learned a trade/skill, these kids have no trouble finding employment, and have relatively good working conditions.

2 Too much competition. This ties in with #1, but a lot of koreans seem to want to go for jobs that are popular, and not in major demand. For example, a lot of girls in korea want to be stewardesses, announcers, or celebrities for some reason. Koreans also seem to want jobs that are associated with high status(?) or something. High prestige jobs like doctors, lawyers, ceo, or being employed at a conglomerate are desired, while blue collared jobs are looked down upon. High prestige jobs are good and all, but these positions are highly sought after, and highly competitive... Yet people seem to pursue these careers regardless. I've known blue collared workers, who have told me that their fields need workers. However, they've explained to me numerous times that finding people willing to do physical labor for decent/good pay for a prolonged period of time was very hard in korea.

Also, I'm not understanding the decisions all these koreans at US universities going into the econ major. I'm pretty sure that at least 50% of the koreans I've seen at US universities, come here to get an econ degree. It kind of stings to see koreans come to the US, pay mad $$$, (200K sticker price) for an econ degree that won't get them a consulting/finance job in the US(99% don't get one), and most don't get a job in korea in either of those sectors either. The lucky ones will get into a major korean corporation, but those are the lucky ones. The unlucky ones... At least the ones with the luxury of studying abroad are rich...

The ones doing STEM majors at my school on the other hand will get picked up by companies in the US due to having an actual hard skill learnt in college, or go on and get their phd's/masters and go on to teach, get jobs, etc.