Nearly 40 percent of small and medium-sized businesses have no hiring plans for the second half of the year. Of 291 companies polled by job portal Saramin, 109 were not looking for new recruits.
Some 39 percent of SMEs had no plans to recruit. The most common reason (cited by 47.7 percent) was sufficient staff. Other reasons were poor business conditions (30.3 percent), no additional need for new recruits (13.8 percent) and the need to reduce payroll (11.9 percent).
Among the 182 companies with hiring plans, the annual starting salary averaged W23.58 million, some W2.15 million less than the average expected salary among jobseekers (US$1=W1,143).