South Korean firms predict lower recruitment levels this year
23 February 2015
South Korean firms have a pessimistic recruitment outlook for the year ahead, according to the country’s national news agency Yonhap.
Mon, 23 Feb 2015South Korean firms have a pessimistic recruitment outlook for the year ahead, according to the country’s national news agency Yonhap.
A Bank of Korea survey of 2,800 employers showed hiring intentions were the lowest in five years, with most firms saying they already had enough employees.
In another survey, conducted by the Korea Chamber of Commerce and Industry (KCCI), 180 of 500 largest firms by sales in South Korea said they would hire a combined 22,844 new workers this year, down 2.3% from a year earlier. The others were either undecided or did not respond to the survey.
A KCCI official was quoted as saying changes in employment policies were to blame for the predicted hiring slowdown.
Those changes included higher minimum wages, shortened working hours and an increase in the retirement age.
A Bank of Korea survey of 2,800 employers showed hiring intentions were the lowest in five years, with most firms saying they already had enough employees.
In another survey, conducted by the Korea Chamber of Commerce and Industry (KCCI), 180 of 500 largest firms by sales in South Korea said they would hire a combined 22,844 new workers this year, down 2.3% from a year earlier. The others were either undecided or did not respond to the survey.
A KCCI official was quoted as saying changes in employment policies were to blame for the predicted hiring slowdown.
Those changes included higher minimum wages, shortened working hours and an increase in the retirement age.
