Over half of South Korea's 1,062 small to medium companies (SMEs) reliant on the foreign workforce are struggling due to a COVID-19-induced shortage of migrant labor.
According to the response to the Korea Federation of SMEs, 52 percent of the local SMEs that applied this year for more foreign workers with E-9 working visas for unprofessional labor complained that a shortage of workers hampered their production.
The pandemic that had restricted entry from overseas, resulting in a shortage of migrant workers.
In the first half of the year, about 2,000 migrant workers with E-9 visas arrived, which is just 7 percent of the ministry's estimate of workers' arrivals this year.
The average annual figure is 26,000 from 2015-19.
Since the spread of the coronavirus intensified locally in Mar. 26, South Korea has had zero migrant workers with the said visa.
The firms are so desperate that they are willing to hire more expensive Korean laborers to fill the void, but the positions available are not attractive to Koreans.
It was also suggested that a travel exception be made for some migrant workers to help SMEs cope with their production targets.


China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 



