Building a Resilient Future in South Korea's Life Sciences Industry

In South Korea's pursuit to be a global leader in the life sciences industry, its professionals and experts serve as a vital driving force. To equip yourself with the essential knowledge and gain a competitive advantage, there's a single indispensable resource at your disposal – the EPM Scientific South Korean Market Salary Guide. Discover salary trends and make well-informed career choices with this comprehensive compensation overview.

Rising demand and unique challenges

The demand for highly skilled talent in South Korea's life sciences sector is soaring, but the nation faces unique challenges. The Ministry of Health and Welfare's ambitious goal of increasing employment in the pharmaceutical industry is commendable, but a shrinking working-age population poses a significant obstacle. Moreover, global competitors are vying for South Korea's homegrown professionals, making the talent landscape fiercely competitive.

Embracing foreign immigration as a solution

South Korea could revolutionise its talent landscape. The government's introduction of a new fast-track policy, offering foreign science and technology professionals permanent citizenship in just three years, is a game-changer. By actively inviting skilled professionals from around the globe, South Korea can infuse its life sciences industry with fresh perspectives, diverse expertise, and global best practices. This influx of international talent will not only address the immediate talent shortage but also foster a culture of innovation and collaboration that can drive the industry to new heights.

Navigating salary growth and career progression

As professionals in the life sciences industry contemplate their career choices, understanding compensation becomes vital. 

Here are some of the interesting findings from our salary guide survey:

• Embrace flexibility: Following labour amendments in South Korea in 2023, there has been a notable surge in the adoption of flexible working hours, despite the country's gradual reopening after the COVID-19 pandemic. As evidenced by the responses of 84% of South Korean professionals, the prevalence of flexible working arrangements has experienced a significant increase of 11% compared to the previous year.
• Employer reputation: When contemplating leaving their current positions, one of the primary factors frequently cited is the company's reputation or brand perception, as indicated by the most extensive reported cause.
• Bonus decline: Approximately 7 out of 10 South Korean professionals received a bonus within the last 12 months, marking a considerable decline of 16% in comparison to the figures reported in our previous annual report.

With the EPM Scientific Compensation Guides, you can gain exclusive access to salary trends, growth prospects, and industry benchmarks that will steer you towards a successful and fulfilling career.

Why download the guide?

• Stay informed: Get real-time data on salary increments and industry standards to make informed decisions about your career trajectory.
• Compete with confidence: Armed with valuable insights, you can confidently negotiate salaries and benefits, ensuring you get the compensation you deserve.
• Unlock opportunities: Discover untapped potential in the industry and explore avenues for career growth that align with your aspirations.
• Be future-ready: As the life sciences industry evolves, equip yourself with the latest market knowledge to stay ahead of the competition.

At EPM Scientific, we are committed to supporting your professional growth and success in the life sciences industry. Our team of expert consultants possesses a profound understanding of the field's dynamics and is dedicated to connecting you with opportunities that perfectly match your expertise and aspirations.

Whether you are an experienced professional looking for new challenges or a rising star seeking to make your mark, we've got you covered. Submit your CV to our experienced team, and we'll embark on the journey of finding the best fit for your skills in the market.