Medical schools lose appeal as semiconductor careers promise six-figure salaries

This undated file photo shows SK hynix headquarters in Icheon Gyeonggi Province Yonhap — SK hynix's headquarters is seen in Icheon, Gyeonggi Province, in this undated filed photo. Yonhap

SEOUL, September 24 (AJP) - University applicants are increasingly opting for majors that guarantee employment at major companies after graduation, rather than medical schools, which have long been the preferred choice among many top-scoring students.

This shift is particularly evident at Hanyang University, Korea University, and Sogang University, which offer semiconductor-related courses and similar programs in partnership with businesses, often leading to guaranteed positions at SK Hynix and other tech companies.

According to the country's one of the largest crammer Jongro Academy, these three universities have seen a surge in the number of applicants to begin their academic year next year, with Hanyang receiving 1,171 applications for 32 openings, followed by Sogang with 970 applications for 20 openings, and Korea University with 337 applications for 28 openings.

The surge in applications has made admission at these schools more competitive than a year ago, although Korea University's rate slightly declined after it increased its intake of new students.

The surge appears to reflect expectations of six-figure salaries at SK hynix, buoyed by the semiconductor giant's soaring profits thanks to its global dominance in the high-bandwidth memory (HBM) market.

According to financial research firm FnGuide, the company's operating profit this year is projected at 38.23 trillion won ($28 billion), a 62 percent jump from last year. Moreover, the company, which has around 33,600 employees as of the first half of this year, recently agreed with its labor union to allocate 10 percent of operating profits to bonuses, meaning each employee is expected to receive an average bonus of roughly 100 million won ($74,000), making it a magnet for many job seekers.

By contrast, other university programs linked to companies like Samsung Electronics, Hyundai Motor, and LG Display saw a decline in the number of applicants. The number of applicants to medical schools and related majors such as pharmaceuticals, oriental medicine, and veterinary medicine also shrank to 51,194 this year, a sharp drop from 72,351 last year.

In South Korea, admission to medical schools has long been regarded as the pinnacle of academic accomplishment, making them highly competitive and traditionally attracting the country's highest-scoring students, as they provide both job security and high income in a society that often measures success with professional achievement.

But those days are gone, maybe. With the rapid growth of artificial intelligence (AI), demand for advanced memory chips such as HBM has surged worldwide, with SK hynix at the forefront as a leading global supplier and a key partner of Nvidia, attracting many students and aspiring professionals eager to join one of the world's most promising industries.

Experts predict this trend will continue. "Students and many young professionals these days prefer secure jobs, so business-linked university programs are becoming their biggest draw and are expected to remain popular," said Lim Sung-ho, the crammer's CEO.

Kim Hee-su khs@ajupress.com