Seoul residents commute to work on Aug. 21 close to Gwanghwamun Plaza in Jung-gu, Seoul. (Yonhap)
Some 57.5 p.c of main companies in South Korea have both not arrange plans to recruit new staff within the second half of this 12 months or don’t plan to rent in any respect, a survey confirmed Thursday.
In a current survey of the highest 500 firms by gross sales, 40 p.c stated they don’t but have plans to rent faculty graduates whereas 17.5 p.c stated they aren’t in search of recruits. The ballot was carried out on Aug. 5-19 by native pollster Analysis and Analysis, below the fee of the Federation of Korean Industries.
The proportion of firms with recruitment plans elevated from 35.4 p.c to 42.5 p.c in comparison with the identical survey carried out in the identical interval final 12 months. However the share of firms set to rent no new staff out of faculty additionally elevated from 16.6 p.c to 17.5 p.c.
The proportion of undecided firms went from 48 p.c in 2023 to 40 p.c in 2024, leaving it unclear whether or not the job market prospect for H2 this 12 months will enhance from final 12 months.
“Corporations lately have been opting to flexibly alter the interval and measurement of their recruitment, as a substitute of hiring a hard and fast variety of folks in a set interval,” the FKI stated in regards to the report.
When requested why they’d not rent new recruits, 23.8 p.c of the businesses stated they’re decreasing spending to reply to potential uncertainties in administration or lowered revenue. One other 20 p.c cited a chronic financial downturn, whereas 17.5 p.c stated they’re having problem procuring potential staff with the mandatory expertise to hold out their duties.
In a separate January survey by the Korea Enterprises Federation, round 57.5 p.c of the highest 500 firms replied they’d rent about the identical variety of faculty graduates as final 12 months. Solely 14.7 p.c stated they deliberate to rent extra new staff than final 12 months.
