September 06, 2021 13:26
Seven out of 10 conglomerates either have no hiring plans or have yet to finalize them for the second half of this year.
The Korea Economic Research Institute said Sunday that a survey of Korea's top 500 companies showed that 54.5 have not yet been able to devise hiring plans for the second half. Some 13.3 percent said that they would not be hiring at all due to the prolonged recession caused by the coronavirus pandemic.
Only one-third or 32.3 percent have definitely decided to hire new staff, about half of them more than last year.
"It is difficult to tell when the job market will get back to normal as coronavirus keeps spreading and new variants emerge," said Choo Kwang-ho at KERI. "To tackle youth unemployment, it is necessary to loosen red tape and increase labor flexibility."
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