"5 Times the Salary in Korea": Vietnam's Manufacturing Sector Faces Severe Labor Shortage

Reports indicate that Vietnam's manufacturing sector is suffering from a severe labor shortage.

According to analysis, more than 100,000 young Vietnamese youth leave the country every year in search of higher wages, worsening the labor shortage across key industrial sites such as seafood, textiles, and apparel.

The South China Morning Post reported that Vietnam's Ministry of Home Affairs recently estimated that 130,000 to 150,000 Vietnamese people go abroad for employment each year.

As of late last year, the number of Vietnamese workers residing overseas reached approximately 900,000.

Annual remittances sent home by Vietnamese workers abroad range between 6 billion and 7 billion US dollars, equivalent to 8 trillion to 9 trillion Korean won, playing a crucial role in Vietnam's economy.

The outlet noted that while overseas employment serves as a source of foreign currency for the economy, it simultaneously places a burden of domestic labor shortages on local industries.

Internal Vietnamese reports have also emerged showing that labor shortages at key production hubs, such as the Mekong Delta and Ho Chi Minh City, are hindering industrial growth.

Companies have raised wages by up to 25 to 30 percent to secure workers, but the labor crunch shows little sign of easing, according to the outlet.

The Vietnam Textile and Apparel Association reportedly appealed during a recent meeting with authorities that competition over securing labor has reached its limit.

Experts analyzed that regional income disparities and wage gaps with overseas markets are key factors driving young people to seek employment abroad.

In particular, job seekers from central regions with high poverty rates prefer to earn 3 to 5 times higher incomes overseas in countries like Japan or Korea, rather than finding local jobs paying 200 to 250 US dollars, or roughly 280,000 to 350,000 Korean won, per month.

However, the outlet pointed out that working abroad does not necessarily translate to high real income. According to private organizations supporting Vietnamese people in Japan, a significant number of workers struggle with debts incurred from recruitment broker fees and training programs.

(Reported by Kim Minjeong | Video edited by Kim Minji | Designed by Lee Jung-joo | Produced by SBS Digital News)
※ Please note: This article was translated by AI and may contain errors.