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Top 30 groups to hire record number of workers this year
제목 없음 South Korea's top 30 conglomerates plan to hire a record 124,000 new workers this year in line with the government's effort to promote "shared growth," their lobby said Wednesday.

   The Federation of Korean Industries (FKI) said at a business-wide meeting attended by President Lee Myung-bak that large companies plan to hire 12.7 percent more employees compared to the 110,000 that were hired overall in 2010.

   The lobbying group for large businesses said the move to hire 35,000 more workers reflects corporate efforts to fulfill their social obligations. Creating more jobs can help to even out wealth distribution and lay the foundation for sustainable growth.

   It also said the country's leading conglomerates plan to hire 35,000 high school graduates this year with 18,000 already hired as of the first half.

   "Plans are underway by big businesses to fuel the employment of more high school graduates by supporting better vocational and on-the-job training programs," an official for the federation said.

   The FKI, in addition, said that large conglomerate plan to increase business investments by 14.3 percent on-year to 114.8 trillion won (US$107.0 billion), with 50.7 trillion won already invested during the first six months of this year. This represents a 15.8 percent gain from the same six-month period last year.

   Of money invested so far, 38.4 percent was spent on purchasing and sales, with research and development accounting for 29.4 percent. A further 16.6 percent was allocated to improving productivity and 5.6 percent used on personnel management and hiring.

   Large companies, meanwhile, said they will redouble their efforts to help subcontractors that provide them with parts and components.

   Conglomerates have pledge to use 1.4 trillion won this year to help subcontractors, a gain of 52.7 percent compared to last year.

Source: Yonhap News (August 31, 2011)

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