Key Points

The news report on Thursday also stated that including Samsung Group, seven other major conglomerates in South Korea have announced plans to hire a total of 30,000 new employees in the second half of 2025.

The initiative aims to alleviate the severe youth unemployment crisis and act as a catalyst for reviving the sluggish Korean economy.

"Hyundai Motor Group also announced it will hire 7,200 new employees in 2025 and an additional 10,000 in 2026, focusing on sectors related to electrification and software-defined vehicles (SDVs), which are expected to drive the conglomerate's next phase of growth," the report said.

SK Group also plans to recruit about 8,000 new employees in the second half of this year. On the other hand, LG Group plans to hire 3,500 in 2025 and aims to recruit 10,000 over the next three years.

Hanwha Group, which is gaining prominence in the defence sector, also announced plans to hire 3,500 new employees this fall. POSCO Group announced it will hire 15,000 young workers over the next five years as part of its effort to contribute to youth employment.

"Companies are well aware that if the Korean economy falters, the foundation of their businesses will be shaken as well," Pulse quoted an industry insider. "It seems all companies agree that solving the current youth unemployment issue and stabilizing the economy are urgent priorities."

The conglomerate plans to focus its recruitment efforts in semiconductors, biotechnology, and artificial intelligence (AI) - areas experiencing rapid growth and surging demand for skilled professionals.

The large-scale hiring drive aligns with the government's long standing push to expand job opportunities for young people.

"I urge companies to join forces with the government in helping the country overcome the current youth employment crisis," Pulse quoted President Lee Jae-myung, during a Cabinet meeting on Tuesday.

- ANI