Severe Competition for Intern Programs

The competition for applicants seeking internships at large companies is getting fiercer.
As the economy declines the unemployment rate is rising to unprecedented levels.
Samsung Group accepted applications for 1000 entry-level positions from December 1 to 5. A total of 40,000 applications were submitted, meaning that the hiring rate was 40 to 1.
Typically, interns receive 500,000~ 1 million won per month for contract periods lasting from six months to one year. A portion of the interns will be hired full-time, based on their performance.
At Daewoo Group, which began recruiting new intern employees for 1,000 positions on December 5, the competition rate has already reached 10 to 1 as of the 9th. Daewoo expects the rate to reach at least 40 to 1.
Earlier, SK Group recruited 173 interns in September but they received 6,800 applications.
In late October when Daesang Co. recruited 160 intern employees, more than 2,000 applied and 1,500 people applied to the Korea Development Bank when it wanted to recruit 50 intern employees.