Conglomerates likely to hire less in 2nd half

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Conglomerates likely to hire less in 2nd half

New hires by conglomerates in the second half are expected to decrease 10 percent compared to the same period last year, according a survey by recruitment website JobKorea.

Among 267 major companies drawn from a pool of the top 500 businesses, 54.7 percent said they would make new hires in the second half. These 146 companies plan to hire 9,121 new recruits total, 9.8 percent less than the 10,107 hired during the same period last year.

Seventy-six of the companies, making up 28.5 percent, said they had no plans to make new hires, while 45 companies, or 16.9 percent, said they had not made a decision yet on whether to hire new people.

By industry, financial companies were the most optimistic about hiring in the second half, with 76.9 percent saying they would take on new employees, followed by construction companies with 60.9 percent.

On the other hand, companies in the shipbuilding, shipping and heavy industries, which are currently undergoing restructuring, said they have no recruiting plans this year.

Electronics companies are set to make the most hires, at 3,036, followed by financial companies with 2,226 and automotive and logistics companies with 626. Service sector businesses plan to hire 540, and distribution and trade companies hope to take on 451 new employees.

The average base salary of conglomerates’ new recruits is estimated to be 38.6 million won ($34,500). New employees at financial companies can expect the highest pay, with an average of 43.1 million won, followed by construction companies with 41.1 million won, petrochemical companies with 40.5 million won and automobile and logistics companies with 40.2 million won.

The hiring season is expected to kick off with Hyundai Motor accepting applicants at the end of this month.

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