Large companies won’t slash jobs despite gloomy outlook

Major Korean companies are forecast to cut their hiring of new employees only slightly next year amid increasing economic uncertainties and a possible slowdown, a poll showed yesterday. According to the survey by the Korea Chamber of Commerce and Industry (KCCI), 262 companies plan to hire 28,412 people in 2012, down a mere 1.3 percent, or 365, from this year. The survey covered the country’s top 500 companies by sales, of which 325 responded, the KCCI said.

“Despite all the negative economic factors, major companies are poised to hire workers at a similar level to this year. Uncertainty in the job market is unlikely to swell next year,” said the KCCI. “If big companies hire more than they original planned to, the labor market could see a turnaround.”

A total of 33 companies, or 10.1 percent of the respondents, said they have no plans to create new jobs in the coming year, while 63 companies, or 19.4 percent, said that they have yet to decide. Korea’s jobless rate stood at 2.9 percent in November, down from 3 percent in the same month a year earlier.

Yonhap