총 36페이지

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VoiceofWisdom
are the destinations for 10.4 percent of all Korean exports or roughly $56 billion in 2011. From July 2011 to this
April, trade between the European Union and Korea decreased by 0.9 percent due to the difficulties the European
market is experiencing. Although this amount is fairly “small” (roughly about $500 million), Samsung Economic
ResearchInstituteclaimsthattheimpactwasgreatlydecreasedbytheKorea-EUFTAimplementationinJuly2011.
Furthermore, if the situation becomes worse, Korea could lose billions of dollars in additional exports. Hyundai
ResearchInstituterecentlyreportedthatifEurope’simportsofKoreangoodsfallbyasmuchas20percent,exports
woulddropbyatleast$12.8billion.
Another factor relates to trade with China. China, as Korea’s number one trading partner, absorbed 22.4 percent
of Korean 2011 exports. Much of the ongoing trade consists of capital and intermediate goods that are then used
to produce Chinese products to be re-exported to Europe. Therefore, the slowdown will affect both the direct and
indirect exports of Korean goods to Europe. It is not exactly known how many jobs or of which type will be lost
due to Europe’s slowdown, but it can be assumed that this potentially large drop in trade levels with both the EU
and China can be considered an extremely negative factor for both hiring and continued employment for Korean
trainees,managers,administratorsandeventranslators.
Inadditiontodirectfactors,ahostofotherimplicationsaboundthatcandirectlyaffecttheKoreaneconomyand
employment of Korean graduates. One indirect factor involves a potential outflow of European capital from the
domesticfinancialmarketasEurozonecountriestrytopropuptheirfalteringeconomies.Approximately$1.1billion
hasrecentlybeenwithdrawnfromAsianequitymarketsandbillionsofdollarsmorecouldfollow.Thisactioncould
greatlyincreaseoverallmarketvolatilityanddecreasetheabilityofKoreanfirmstoaccessneededcapital.Another
impactisanoverallweakeningofKoreancurrency,which,ononehandmakesKoreangoodsrelativelycheaperand
moresalable,butalsomakesitmuchmoreexpensivetobuyimportedgoodsnecessarytoproduceexportsanditems
for domestic consumption. A further factor is the risk of default on the substantial short-term loans that Korean
banks have made in Europe. Losing that money could have serious detrimental effects to the Korean economy.
Althoughtheseindirectfactorswillnotdirectlyfingerthecrisis,theycouldhaveamajorimpacttotheeconomy.
The simple question remaining is, in light of the potential negative impacts to the Korean economy, what can
HUFSans, especially those studying European languages or business systems, do to better ensure prosperous
futures?Thethreegeneralsuggestionsprovidedareapplicabletopreparingforanytoughfuturejobmarket.Students
should experience, build value and act. Every year, thousands of new seniors and graduates enter the Korean
job market. In many respects, their resumes look remarkably similar as their experiences are virtually identical.
Students should not be afraid to draw upon and follow their dreams in non-traditional approaches, be it through
volunteering, internships, travel or study. Furthermore, they should not just experience things only for the sake of
another line on a resume, but should do it for its own sake and let these experiences influence their imaginations,
characters and paths in life. These influences are what helps develop the value that students can provide to future
employers.Beingabletoprovidepracticalknowledgeandexperienceinfieldsbeyondageneraluniversityeducation,
arethingsthatcompaniesmostdesireandwillguaranteeemployment.Lastly,thetypicalsuggestionisforuniversity
studentstodream,howeverdreamingwithoutactionleadsnowhere.HUFSansshouldbepreparedtolookcritically
attheirdreams,planouthowtoimplementthemanddecisivelyacttomakethemhappenregardlessofwhetherthey
fittraditionalmolds.
In summary, the Eurozone Economic Crisis will be a long term issue that will continue to negatively impact the
Koreaneconomyandworkforcefortheforeseeablefuture,butbytakingsteps,HUFSgraduatescanimprovetheir
futureprospects.
SEPTEMBER 2012

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