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S. Korea adds 260,000 jobs in 2018

South Korean companies added 260,000 jobs in 2018 from a year earlier, government data showed Thursday, amid concerted efforts to hire more workers.

The job gains were compared with 2017, when South Korean firms added a total of 310,000 jobs from the previous year, according to the data compiled by Statistics Korea.

By sector, wholesale and retail businesses added 70,000 jobs and health and social welfare services added 40,000 jobs in 2018 from a year earlier.


(Yonhap)
(Yonhap)

In contrast, manufacturing shed 60,000 jobs in 2018 in a sign of trouble facing the manufacturing sector, a key backbone of the Korean economy.

The data showed companies with more than 300 employees saw the strongest gains with 140,000 jobs. It showed that 100,000 jobs were added to companies with payrolls of between 50 and 300.

Meanwhile, companies with one to four employees shed 240,000 positions in 2018, underscoring difficulties among small businesses in a country where family-controlled conglomerates have dominated the economy for decades. (Yonhap)

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