IT ventures suffer manpower shortage: poll

Korean information technology ventures are suffering from manpower shortages as fewer skilled people enter the field, a poll showed Friday.

According to the survey on 1,800 small and mid-size tech firms conducted by the Korea Venture Business Association, 44.6 percent of respondents said they are suffering from a lack of skilled labor.

They also cited financial strains, a sales slump, slow progress in research and development and stiff competition as business difficulties.

The survey noted that experienced and skilled workers are reluctant to opt for smaller ventures, causing those businesses to struggle to fill vacancies in sectors of research and development, marketing, production and management.

The poll also showed that the tech ventures experienced lower profit margins last year.

Total revenues of the surveyed firms rose 5.5 percent on-year to reach 89.2 trillion won ($78.9 billion) in 2011, but their operating profit fell 15.1 percent to an average of 224 million won.

They posted an average net profit of 95 million won last year, down from 186 million won a year earlier, according to the findings. (Yonhap)