Naver, Kakao, Coupang vying to secure software developers
Job ads for Kakao Pay hang on the wall of Pangyo Station in Seongnam, Gyeonggi Province. / Courtesy of Kakao Pay
By Jun Ji-hye
Naver, Kakao, Coupang and other IT firms are competing to secure skilled software developers and other workers as technological prowess has become more important to outpace rivals and remain competitive in the era of the Fourth Industrial Revolution, officials said Thursday.
The competition to recruit talented developers has been heating up as not only traditional IT companies such as Naver and Kakao but also distribution and commerce firms such as Coupang have been active in implementing advanced services powered by, for example, artificial intelligence (AI) technology.
“Even the financial industry is increasingly looking for developers with the emergence of fintech companies and internet-only banks,” said an official from an IT company based in Pangyo, a technological Gyeonggi Province. “Demand for excellent developers is growing in a wider range of industrial fields.”
Competition to secure capable developers is seen especially at Pangyo, a tech complex near Seoul.
Game firm Com2uS and Kakao's fintech subsidiary KakaoPay are currently putting up their job ads on the walls of Pangyo Station, hoping to captivate the hearts of developers passing through the station.
An official from KakaoPay said her firm will maintain the job ads at 10 locations in the station until March 24 as the firm's open recruiting is currently underway.
“We also operate our own recruiters in charge of looking for the best workers to join the company,” she said.
Online game and services provider NHN Entertainment, which is also based in Pangyo, has employed a unique hiring practice, hosting a party event dubbed “WE!FRIENDS Career” aimed at promoting the firm's plans to recruit new employees.
In order not to lose their developers to competitors, some companies have been moving to increase employee benefits such as compensation and welfare.
Naver, the nation's largest portal operator, said on Jan. 31 that the firm was considering increasing compensation including stock options for its employees, while food-delivery app operator Baemin has significantly raised salaries for three years in a row.
Officials said small and medium-sized firms and startups are experiencing more difficulties to recruit competent developers amid the heated competition.
Those firms usually suggest giving stock options for recruitment but applicants react with skepticism, raising the possibility that the small firms would fail to be floated on the stock market, an official from a game firm said.
“AI developers are limited in number as the area requires a wide range of learning and experience,” the official said.
In another way to secure talented developers, some companies have sought to take over AI startups or invest in them.
Kakao's content platform KakaoPage bought a stake in AI startup Mycelebs last year, becoming the second-largest shareholder.
LG Electronics has also made equity investments in the wearable robot startup SG Robotics, robot developer Robotiz, robot emotion recognition startup Acryl and industrial robot maker Robostar as well as U.S. robot developer Bossa Nova Robotics.