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Big firms' payrolls increase 1.5% in H1 on eased pandemic curbs

Aug. 3, 2022 - 09:28 By Yonhap

The combined workforce of large South Korean companies expanded 1.5 percent in the first half of the year from a year earlier amid eased COVID-19 restrictions, a corporate tracker said Wednesday.

The number of workers hired by 459 out of the country's top 500 firms by sales totaled 1.55 million as of end-June this year, up around 12,500, from a year earlier, according to CEO Score.

The tally excludes 41 out of the country's leading 500 companies, which reported changes of 10 percent or higher in their payrolls due to mergers or splits.

CEO Score said those big companies appear to have increased employment in the wake of eased social distancing rules.

Companies in 14 out of the total 21 business sectors, including information and technology, electric and electronic businesses, added jobs over the cited period, while distribution firms, banks and insurers cut jobs.

Information and technology, electric and electronic companies hired about 6,200 more workers, the largest among all industries, while retailers and wholesalers made the biggest job cut with some 2,600.

Global tech behemoth Samsung Electronics Co. posted the largest job increase with 3,225 in the first half, followed by display giant LG Display Co. with 1,284 and leading air carrier Korean Air Lines Co. with 1,114.

E-commerce giant Coupang Inc. chalked up the biggest job decrease of 2,116, trailed by Citibank Korea with 995 and telecom titan KT Corp. with 925, according to CEO Score. (Yonhap)