Core Viewpoint - South Korea's declining birth rate and aging population are raising concerns about labor shortages, with a report suggesting that increasing the number of high-skilled foreign workers could significantly boost the economy [1] Economic Impact - The report from the Korea Chamber of Commerce and Industry indicates that if the number of long-term foreign residents increases by 1 million, it could generate economic benefits equivalent to 6% of GDP, approximately 145 trillion KRW [1] - Currently, there are 1.35 million registered foreign residents in South Korea, and if this number rises to 5 million, the cumulative economic benefit could reach 361 trillion KRW [1] - An increase of 1 percentage point in the share of foreign talent in the economically active population is associated with an approximate 0.11% growth in per capita GDP [1] Strategic Directions - The report outlines three strategic directions to attract foreign talent: 1. Develop livable cities tailored for foreigners 2. Attract the global semiconductor manufacturing industry 3. Implement a "train first, then attract" overseas talent training program [1] - Specific measures proposed include improving infrastructure, attracting multinational companies, offering visa and tax incentives, and enhancing education and healthcare services [1] - The report also suggests establishing one-stop programs for talent training, employment matching, and long-term residency targeting top universities in countries like Vietnam and Indonesia to compete for global high-skilled talent [1]