Korean jobseekers are facing record high competition to land a job at major companies this year. Accoeding to Korea Times local corporations are scaling down their recruiting plans due to economic uncertainties.
KT Freetel Co., the nation's No. 2 wireless carrier, said yesterday that more than 8,000 people had applied for its second-half employment while the company plans to hire only 50.
The 160-to-1 ratio was the highest ratio of applications to jobs the company has ever recorded and followed last year's recruiting which drew 6,500 applicants for 50 hires, KTF officials said.
Other major industrial groups have also been inundated with job applications, with unemployment remaining high.
Recent state figures showed that the country's seasonally-adjusted unemployment rate remained at a three-year high of 3.6 percent in August. About half of the jobless are 15 to 29 years old, according to the data.
Samsung Group, Korea's largest conglomerate, said it received 55,000 applications for 5,000 hires scheduled for the second half.
Samsung Electronics Co., drew the largest number of candidates at 25,000, while Hotel Shilla attracted 1,000 jobseekers for just 10 posts.
Hyundai Engineering & Construction said it already received 8,525 applications for 120 hires scheduled for early 2005.
The local banking sector has also emerged as one of the most popular targets for domestic job hunters.
The state-run Export-Import Bank of Korea said that 2,445 people applied for 30 new posts. Another policy bank, Korea Development Bank, drew 3,683 applications for 70 hires.
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