Kim Hyun-bin began his journalism career at Arirang TV from 2012 to 2017, specializing in defense, foreign affairs and the economy. In 2018, he joined The Korea Times, covering society and business, and is currently responsible for embassy affairs.
Jobseekers face tougher path to Samsung, SK, Hyundai Motor, LG
By Kim Hyun-bin
By Kim Hyun-bin
A 27-year-old jobseeker surnamed Kim is aiming to secure employment in the latter part of this year, eagerly anticipating recruitment announcements from Samsung and other large companies. Unfortunately, Kim feels the current job market is less optimistic amid the economic downturn and higher interest rates, which have made businesses more reluctant to hire new workers.
"I am actively pursuing job opportunities, although the current job market presents challenges due to increased interest rates and economic uncertainties. Nevertheless, I am eagerly anticipating new job openings from leading conglomerates," Kim said.
Kim is among many eagerly awaiting employment opportunities. However, companies are expected to hire fewer employees this year. According to the Ministry of Employment and Labor, the planned recruitment numbers for the second and third quarters of this year for companies with more than one employee are expected to decrease by 90,000 (13.8 percent) compared to the same period last year.
"Given the poor financial conditions of companies and sluggish sales flow, new hiring is destined to shrink," an industry official said.
According to job platform company Job Korea, the average number of recruits per company planning to recruit in the second half of this year is 12.7 people, which is 35 percent lower than the 19.3 people in the first half of the year. This survey was conducted recently with responses from 187 corporate HR personnel.
Major domestic companies, including Samsung, are gearing up for second-half recruitment starting next month. With the expected decrease in the scale of recruitment compared to previous years, the job market is anticipated to become even more competitive.
Jobseekers take Global Samsung Aptitude Test (GSAT) at the Samsung Electronics Institute for Talent Development in, Yongin, Gyeonggi Province, May 14, 2022. Courtesy of Samsung Electronics
Samsung affiliates expected to participate in the recruitment include Samsung Electronics, Samsung SDI, Samsung Electro-Mechanics, Samsung SDS, Samsung C&T and Samsung Biologics, among others. While specific hiring schedules have not been released, it is expected that applications will be accepted through Samsung's recruitment website Samsung Careers, as in previous years.
The recruitment process will follow the same pattern as the first half, including job suitability assessments, such as the Global Samsung Aptitude Test (GSAT), interviews and health checks. Samsung is planning to hire thousands of employees through this second-half recruitment drive. Among the top four conglomerates, Samsung is the only one maintaining a recruitment process for new employees.
Other major companies like SK, Hyundai Motor and LG are also set to begin their recruitment processes and plan to focus on talent acquisition for core businesses such as semiconductors, artificial intelligence (AI), batteries and biotechnology.
Key subsidiaries of SK Group have already begun their second-half recruitment. SK Telecom will accept documents for applicants in various fields such as infrastructure, development and services through Aug. 30. SK Innovation and SK hynix will soon begin their second-half recruitment processes. SK hynix, which reported over 6 trillion won ($4.53 billion) in operating losses in the first half of this year alone, is expected to reduce its hiring compared to previous years.
Hyundai Motor will be accepting applications from Sept.1 through Sept. 14 via the official recruitment website. According to Hyundai Monday, this hiring process will target a total of 26 positions in six categories, including research and development, design, production manufacturing, business planning, management support and IT.
During the recruitment period, Hyundai will host a job fair and a metaverse recruitment information session with current employees and HR personnel participating, aiming to provide job seekers with detailed information.
"This recruitment is aimed at securing outstanding talents to enhance our future mobility competitiveness to improve the recruitment process and create differentiated recruitment content considering the perspective of applicants in order to secure exceptional talent,” a Hyundai Motor official said.
Starting next month, LG will also hold recruitment fairs at major universities nationwide. LG Chem plans to hold an online recruitment explanation session via YouTube on Thursday, followed by recruitment notices. LG Energy Solution will recruit new employees until Sept. 9.
POSCO Group will begin second-half recruitment for each subsidiary from next month. Subsidiaries in the steel sector, including POSCO, will start their second-half recruitment process on Sept. 1. The number of recruits is expected to be similar to previous years.