① Science and engineering (STEM) talent plays a central role in driving future growth in areas such as digital transformation, artificial intelligence, and advanced manufacturing, forming a strategic foundation for national competitiveness.

② The overseas outflow of STEM talent represents a structural risk that may weaken Korea’s technological innovation capacity and long-term growth potential, as it entails the loss of human capital accumulated over many years.

③ Korean STEM professionals have continued to move overseas, with particularly strong flows to the United States. The number of Korean STEM doctorate holders working in the U.S. almost doubled between 2010 and 2021, increasing from about 9,000 to 18,000. LinkedIn data also indicates that net overseas outflows have accelerated since 2015, driven primarily by talent in biotechnology and ICT.

④ Our survey results show that 42.9% of domestic STEM professionals are considering moving abroad within the next three years, with the share rising to 70% among those in their 20s and 30s. As expected, financial factors—including wage levels and expected earnings—were cited most frequently. At the same time, non-financial considerations, such as the research ecosystem, professional networks, and assurance of career opportunities, also accounted for a substantial share.

⑤ The empirical analysis using a logit model shows that when satisfaction with earnings increases from “fair” to “satisfactory” (a one-point increase on a 1–5 scale), the probability of moving overseas declines by 4.0 percentage points. Similarly, higher satisfaction with employment stability and promotion opportunities reduces the probability of an overseas move by 5.4 and 3.6 percentage points, respectively. These results indicate that improvements in working conditions—particularly job security and career development—can be just as effective as financial compensation in mitigating talent outflows.

⑥ A more detailed analysis of non-financial factors by individual characteristics reveals clear heterogeneity. When examined by degree level, master’s degree holders showed a lower intention to move overseas when promotion opportunities and the research environment improved, whereas doctoral degree holders placed greater importance on employment stability and their children’s educational environment. When broken down by academic major, individuals in emerging industries such as biotechnology and IT were strongly influenced by the research environment and their children’s educational environment, while employment stability emerged as the principal factor for those in fields outside emerging industries.

⑦ Drawing on the analysis, this paper proposes three key policy directions: 1) reforming the financial compensation system to secure top STEM talent, 2) enhancing the effectiveness of R&D investment, and 3) expanding the innovation ecosystem by strengthening the foundation for technology startups and promoting openness in strategic technologies.