Domestic Mid-sized Companies Including T'way Air See 10,000 Increase in National Pension Subscribers Over Two Years

CEO Score, Employment Status of National Pension Subscribers in Top 500 Mid-sized Companies Survey
Transportation Industry Up with Travel Demand Recovery
5 of Top 10 Decreasing Companies Are IT and Electronics

Despite the economic downturn, the number of National Pension subscribers at mid-sized companies listed in Korea has increased by more than 10,000 over the past two years. In particular, with the recovery of travel demand following the COVID-19 endemic, the number of National Pension subscribers in the transportation sector, including T'way Air and Jeju Air, has significantly increased.

According to CEO Score, a corporate data research institute, on the 21st, a survey on the employment status of National Pension subscribers was conducted targeting 467 of the top 500 mid-sized companies in Korea, excluding 33 companies that experienced large fluctuations due to mergers and splits. The total number of National Pension subscribers at these companies increased by 10,234 (4.8%) from 215,166 at the end of 2021 to 225,400 at the end of last year. Among the 467 companies, 271 (58.0%) saw an increase in the number of National Pension subscribers.

Changes in National Pension Subscribers by Industry for the Top 500 Mid-sized Companies from 2021 to 2023. [Provided by CEO Score]

By industry, the transportation sector saw the largest increase in National Pension subscribers, with 2,205 more subscribers. This was followed by service with 2,178, pharmaceuticals and bio with 1,860, IT and electronics with 1,339, shipbuilding, machinery, and equipment with 734, and construction and building materials with 695.

By company, T'way Air recorded the largest increase in National Pension subscribers over the past two years, with 1,178 more subscribers (118.4%). Employment significantly increased as travel demand recovered, leading to the introduction of medium and large aircraft and new flight routes.

The second largest increase was at Jahwa Electronics, which saw 1,159 more National Pension subscribers (225.5%). This is believed to be due to new employment created by the investment in establishing an Apple parts factory in Gumi, Gyeongbuk, in December 2021.

Jeju Air ranked third with an increase of 1,075 National Pension subscribers (65.1%), followed by MegaStudy Education with 554 (39.6%) and YMC with 429 (175.1%). During the same period, 191 companies (40.9%) experienced a decrease in the number of National Pension subscribers.

The largest decrease was at Hands Corporation, an automobile parts manufacturer, which saw a reduction of 344 subscribers (-29.4%). This was followed by Optrontec with 313 fewer (-73.3%), Sekonix with 271 fewer (-31.3%), Seoul Semiconductor with 221 fewer (-44.3%), and Yuseong TNS with 208 fewer (-58.3%).

Among the top 10 companies with the largest decreases, five were in the IT and electronics sector, which is interpreted as being affected by the global economic downturn and the semiconductor industry slump.

Additionally, in the service sector, Cafe24 saw a decrease of 207 National Pension subscribers (-16.0%) over two years, followed by Winia (formerly Winia Dimchae) with 194 fewer (-30.9%) and Seoul Viosys with 191 fewer (-40.7%).