Samsung, Hyundai Motor, POSCO Document Submission This Month
Concerns Over Hiring Market Contraction Amid Increased Rolling Recruitment and Economic Downturn
Job seekers are looking at the recruitment and consultation reservation board at the mid-sized company job fair held last July at COEX in Gangnam-gu, Seoul. [Image source=Yonhap News]
[Asia Economy Reporter Choi Seoyoon] Major groups such as Samsung and Hyundai Motor have begun their regular recruitment for new college graduate hires in the second half of the year. However, with companies increasing irregular hiring and the overlapping 'three-high crisis' of high inflation, high interest rates, and high exchange rates, the job market is expected to be tighter than in previous years.
According to the industry on the 10th, Samsung is the only one among the top five groups conducting regular recruitment and is accepting online applications for the second half of the year until the 14th.
The affiliates participating in this recruitment include Samsung Electronics, Samsung Display, Samsung Electro-Mechanics, Samsung SDI, Samsung SDS, Samsung Biologics, Samsung C&T, Samsung Engineering, Samsung Life Insurance, Samsung Fire & Marine Insurance, Samsung Securities, Samsung Card, Hotel Shilla, Cheil Worldwide, S-1, and 20 others.
The recruitment process will proceed in the order of ▲Job Aptitude Test in September ▲Samsung Job Aptitude Test (GSAT) in October ▲Interviews in November. Samsung has been conducting the GSAT online since 2020 when the COVID-19 pandemic began.
Samsung plans to expand its recruitment scale starting this year, aiming to hire a total of 80,000 new employees over the next five years. The number of hires over the past three years was 40,000. Although the actual demand for new personnel is about 10,000 per year, Samsung stated that it will increase the recruitment scale by 20% from this year to create 'quality youth jobs.'
Hyundai Motor Group started its continuous recruitment on the 1st and is accepting applications until the 14th. This is the second continuous recruitment following July. Hyundai Motor is implementing 'odd-month continuous recruitment.' The positions available this time include research and development (R&D), manufacturing, strategic support, and design.
Additionally, Hyundai Motor regularly holds metaverse recruitment briefings by job category. The metaverse briefing related to this continuous recruitment was held from the 6th to the 8th. Hyundai Motor plans to continue holding online briefings when hiring new employees to strengthen communication between current employees and applicants and to shorten the recruitment process period.
Kia is recruiting new college graduate hires online until the 18th. This recruitment covers a total of 14 divisions: ▲Production ▲Purchasing ▲Quality ▲Manufacturing Solutions ▲Management Support ▲Customer Experience ▲Customer Safety ▲Domestic Business ▲Overseas Business ▲New Business & Planning ▲Strategy/Product ▲Tech ▲Special Business ▲Finance.
Applicants must be expected to graduate from a four-year regular university by February next year or hold a bachelor's or master's degree. The final acceptance announcement is scheduled for December, with entry planned for early next year. Starting with this recruitment, Kia unified the recruitment start time for the second half of the year to September and conducts batch recruitment by division, while maintaining the monthly continuous recruitment method for the first half, adopting a hybrid approach.
POSCO Group is also accepting applications for new hires at five companies?POSCO, POSCO International, POSCO Construction, POSCO Chemical, and POSCO Altech?until the 21st.
The second half recruitment process includes the Personality Aptitude Test (PAT), first interview (job competency evaluation), and second interview (value fit evaluation) before final selection. From this time, the PAT has been switched to an online format.
POSCO has resumed on-campus job fairs at domestic universities, which were suspended due to COVID-19, allowing senior employees to meet applicants face-to-face. For applicants who find it difficult to attend job fairs, an online consultation called 'POSCO Online Recruiting' will be held concurrently. Interested candidates can participate in the online recruiting by pre-registering by the 12th.
POSCO favors candidates who pursue the value of coexistence, such as those with volunteer experience or recipients of humanitarian awards, and proactive types with a sense of ownership and responsibility, including those with contest or startup experience. They also prefer future-oriented talents who lead change and growth through flexible thinking and continuous learning, such as those skilled in artificial intelligence (AI), big data, or winners of the Steel Challenge.
The top five groups?Samsung, SK, Hyundai Motor, LG, and Lotte?announced plans to hire more than 260,000 new employees in line with the new government launched in May. However, with SK Group and Hyundai Motor abolishing regular recruitment and companies shifting to continuous recruitment, coupled with economic downturns, there is a possibility that the initial targets may be scaled back.
A survey by the Federation of Korean Industries of 500 major companies on their recruitment plans for the second half of this year found that six out of ten companies either had no plans or were unable to set plans for new hires. Among companies planning new hires this year, 62% intend to use irregular recruitment, with 19.8% planning to conduct only irregular recruitment. Companies combining open and irregular recruitment account for 42.2%, while those conducting only open recruitment make up 38%.
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