Job stability remains big lure of public corporations

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Job stability remains big lure of public corporations

While the government has taken action recently against state-run companies for lax management, a report released by a job search portal showed they are still the dream of many job seekers who value stability.

According to the job portal Saramin yesterday, employees of public corporations hold their jobs for an average of 15 years, compared to 10.9 years at the country’s top 100 private corporations.

The length of employment is considered an important factor for job seekers, who see it a gauge of employees’ satisfaction with salaries, welfare benefits and other workplace conditions.

“Although public corporations offer lower salaries [than] private companies, many job seekers still tend to prefer working at public corporations,” said Im Min-uk of Saramin. “There also seems to be a tendency among job hunters to think that public corporations are not as strict in evaluating performance.”

The study showed that many employees at large private conglomerates leave jobs after a few years because of excessive pressure to perform.

Among 30 public corporations selected by Alio, a public service information site, the Korea Minting, Security Printing and ID Card Operating Corporation (Komsco) had the longest average length of employment at 22.5 years, followed by Yeosu Gwangyang Port Authority at 21 years and Korea Coal Corporation at 20.7. Korea Rail Corporation, Korea Electric Power Corporation, Ulsan Port Authority and Korea Airport Corporation all recorded about 18 to 19 years.

Employees at KT, the nation’s second-largest mobile carrier, stay on the job an average of 19.6 years, as high as public corporations, based on Financial Supervisory Service data on the top 100 private conglomerates in terms of sales.

Yeochun NCC, a petrochemical company established from Daelim Industrial and Hanwha Chemical, followed with 19.3 years and Posco with 18 years. Employees of other leading conglomerates - including Hyundai Heavy Industries, Kia Motors, SK Chemical, Hyundai Motor and Korea Exchange Bank - worked 17 to 18 years. KB Kookmin Bank ranked 10th at 16.1 years.

Seoul Metro recorded the longest number of working years, 20.2, among local public corporations.?

By Kim-Ji-yoon [jiyoon.kim@joongang.co.kr]

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