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Society Foreign Companies Also Reluctant to Hire More
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But after enacting major budget cuts to weather the economic downturn last year, are they ready to hire again?
More employers are looking to ease the hiring freeze, but they're still cautious about bringing on new staff, says Lee Jeong-hwan, the head of People-N-Job, an online job search firm with the largest database of foreign firms.
"Let's just say that the overall situation improved a bit," he said, adding that many multinationals recently hired only to fill positions that have been left vacant for a long time.
3M, Delphi Korea and Otis Elevator are among some foreign companies that opened up new positions recently.
"Last year, employers didn't bother to fill fresh vacancies because they just didn't have the money," said Lee, "but we're now starting to see companies looking for replacements again."
About 50 new jobs currently get posted daily on the People-N-Job site, which is up from just 20 per day last year, according to company statistics.
Experts say the pharmaceutical, marketing and information technology industries are leading the hiring recovery.
Kim Ji-hyun, a headhunter specializing in foreign firms, said these companies fundamentally are not structured to drastically expand recruitment.
"Unless they start up a new business unit, they don't need hundreds of new workers to manage an operation in Korea," she said, adding that job seekers should take advantage of multinationals that are new to the country.
The number of foreign or foreign-invested companies in Korea more than doubled over the past decade, according to recent government data. In 1998, there were 4,317 overseas firms doing business here, but the number climbed to 9,612 last year.
"They offer a lot more opportunities for a diverse group of candidates, especially for entry-level applicants," said Kim.
Headhunters generally say that inexperienced, local college graduates have a slim to none chance of landing a job at a foreign company.
"It sounds brutal, but mediocre English skills, no work experience with just six months of language training abroad aren't enough," said Lee, who advises those who absolutely want to work for a global name to first begin a career at a domestic company.
"It's better to apply with some experience and background, instead of just ambition," he said.
jhan@koreatimes.co.kr, By Jane Han Staff Reporter
Question
1. Reading this article, why do foreign companies in Korea reluctant to hire more?
2. Why do many people prefer foreign company to Korea company?
3. In these days, many people try to improve their ability, (so-called ‘SPEC’) to enter foreign companies.
They also go abroad to study English. What do you think of this situation?
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