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Recruitment Market to Revive in Second Half of This Year

Recruitment Market to Revive in Second Half of This Year

Posted June. 03, 2003 21:57,   


Hyundai-Kia Motors announced Tuesday the result of its recruitment screening procedures. The competition ratio was 75-to-1.

Dongkuk Steel Mill has been receiving the application forms from May 30 to June 8. The competition ratio passed 100-to-1 on June 3. “The number of applicants doubled compared with that of last year and two years ago,” said an official of the company. “I thought not many job seekers would apply for this traditional heavy industry company. But I was glad that there were many competent applicants.”

The nation`s recruitment market has seen a recent revival after hardships resulting from the war in Iraq and SARS. Companies, which postponed their recruitment plans in the first half of this year due to economic uncertainties, have started hiring new employees while some are planning to do so in the second half of this year.

Recruit, a recruitment information agency, conducted a survey on 103 out of top 150 companies based on sales performance regarding the recruitment plans in the latter half of this year. According to the result, the agency predicted that recruitment will increase 10.1% compared with the same period last year. Although total employment will decrease 30.4% this year from a year ago, the figure will rise in the year`s latter half because companies barely hired new employees in the first half.

Recruitment is expected to rise 120% in the distribution sector, 3.4% in the shipbuilding and heavy industry, and 4.6% in restaurants from a year ago. However, the number of new employees will slightly drop from a year ago in industries including food, electronics, information and communication, automobiles, and finance, according to Recruit.

“The situation will get better in the second half of this year, but there are many companies that haven`t made any decisions yet. Therefore, it depends on economic conditions,” said Choi Seung-eun at Incruit, another recruitment information agency.

Large conglomerates of electronics, automobiles, and steel plan to hire R&D assistants with MAs or PhDs from prominent universities abroad.

Samsung Electronics will hire 2,200-2,500 new employees this year with half of them recruited in the latter half. “We might hire more people than expected since we have many new businesses including LCDs, semiconductors and mobile phones,” said an official. “More than 85% will be science and engineering majors.”

LG Electronics will recruit 1,100 new college graduates in July, up from 700 in the first half. The major electronics company decided to start touring colleges from this month to secure competent human resources. The company will also send its human resources managers to major universities in the U.S. to actively secure Korean students who finished their study with MAs or PhDs in information and communication, electric or electronic engineering, and marketing and those with MBAs.

POSCO also plans to recruit about 100 new college graduates this month and 20 professionals from abroad in the second half.

KT, a major telecommunications company, has been interviewing those who studied abroad. Apart from regular recruitment, Hyundai-Kia Motors are expected to employ 100 engineers holding advanced degrees and those holding MBAs as they did last year.

Hyundai Heavy Industry and Samsung Heavy Industry said their new recruitments are under way but they might increase that number to some extent since there will be a number of competent human resources in the latter half of the year.

In addition, banks will hire some new employees in the second half because they did not recruit in the first half due to the economic slowdown. Shinhan Bank is screening application forms for 100 job vacancies of new college graduates. Other banks including Kookmin Bank who hired 100 last December are expected to start recruiting in the latter half.

Shinsegae will employ a total of 4,100 including 270 new college graduates and experienced workers. The figure increased from a total of 3,456 including 220 college graduates last year.

Samsung Corporation, LG Construction, and Daewoo Construction will recruit several scores of new employees. Daeshin Securities and Mirae Asset Securities are joining this trend.

Yeon-Su Shin Jong sik Kong ysshin@donga.com kong@donga.com