Subcontractors of Hyundai Motor Group, South Korea’s car giant, plan to hire about 18,000 brand-new workers this year, offering a much-needed increase for the country’s plunging job market. Industry sources and business officials stated Thursday.
The employment plan having about 380 subcontractors supplying parts and other items to the group is similar to the level of recruitment they made in 2015.
Hyundai Motor Group, which controls Hyundai Motor Co. and Kia Motors Corp. under its wing, earlier unveiled its plan to work with some 10,000 new employees this year, almost the very same level as the 9,500 utilized in 2015.
This comes amidst concerns over the freezing labor market hard-hit by ramped-up corporate restructuring going on in the country’s leading 3 shipbuilding firms, once regarded as significant job developers for the country.
Just recently, Hyundai Motor Group, the world’s fifth-largest carmaker in terms of sales, held a job fair for its subcontractors, which was over on Tuesday. About 350 subcontractors signed up with the fair.
Group officials stated that some 25,000 individuals went to the occasion occurred in five places of the nation, underlining the eager interest among job applicants in new employment possibility.
More youthful individuals in South Korea are confronted with tougher labor market conditions than other age groups.
Most current government data showed that unemployment rate for those aged between 15 and 29, reached 10.9 percent last month, much higher than the 3.9 percent reported amongst all surveyed people.
