Samsung Group Leads Job Creation Initiative to Combat Youth Unemployment
Ambitious Hiring Plans Through 2029
Samsung Group has announced its plan to hire 12,000 new employees annually from 2025 to 2029, culminating in a total of 60,000 hires. This initiative aims to create high-quality job opportunities for young people and secure essential talent for the future, according to a report by Pulse, the English service of Maeil Business Newspaper Korea.
Broader Conglomerate Involvement
The report, released on Thursday, highlighted that seven major conglomerates in South Korea, including Samsung, have also committed to hiring a collective total of 30,000 new employees in the latter half of 2025.
Addressing Youth Unemployment
This large-scale initiative is a vital response to the severe youth unemployment crisis and serves as a catalyst for revitalizing the sluggish Korean economy. Major companies recognize the need to address these pressing issues.
Hyundai Motor Group’s Hiring Goals
Hyundai Motor Group plans to contribute significantly to these efforts, announcing it will hire 7,200 new employees in 2025 and an additional 10,000 in 2026. The focus will be on sectors related to electrification and software-defined vehicles (SDVs), poised to drive the company’s next phase of growth.
Other Conglomerate Plans
Similarly, SK Group aims to recruit approximately 8,000 new employees in the second half of this year, while LG Group is targeting 3,500 hires in 2025, with an ambitious goal of recruiting 10,000 over the next three years.
Hanwha Group’s Expansion in Defence
As Hanwha Group gains prominence in the defence sector, it has announced plans to hire 3,500 new employees this fall, further contributing to youth employment solutions.
POSCO Group’s Commitment
POSCO Group will hire 15,000 young workers over the next five years as part of its commitment to enhancing youth employment opportunities.
Industry Insights
Industry insiders suggest that companies recognize the potential repercussions of an faltering Korean economy, understanding that their business foundations could be at risk. According to Pulse, “It seems all companies agree that solving the current youth unemployment issue and stabilizing the economy are urgent priorities.”
Focus on High-Growth Areas
The conglomerates plan to intensify recruitment efforts in rapidly growing sectors such as semiconductors, biotechnology, and artificial intelligence (AI), where there is a surging demand for skilled professionals.
Government Encouragement
This large-scale hiring drive aligns with the government’s longstanding initiative to expand job opportunities for young people in South Korea.
Call for Collaboration
President Lee Jae-myung urged companies to collaborate with the government to address the youth employment crisis effectively. “I urge companies to join forces with the government in helping the country overcome the current youth employment crisis,” he stated during a Cabinet meeting on Tuesday.
Conclusion
As South Korea navigates its youth unemployment crisis, the initiatives announced by major conglomerates demonstrate a collective commitment to creating job opportunities and fostering economic stability. With focused recruitment in high-demand sectors, these efforts are crucial for a brighter future for the nation’s youth.
FAQs
1. What is Samsung Group’s hiring plan from 2025 to 2029?
Samsung Group plans to hire 12,000 new employees each year from 2025 to 2029, totaling 60,000 hires.
2. Which other companies are involved in the hiring initiative?
Hyundai Motor Group, SK Group, LG Group, Hanwha Group, and POSCO Group are among the other major conglomerates announcing hiring plans.
3. How many employees do these companies plan to hire in total?
In total, these conglomerates aim to hire 30,000 new employees in the second half of 2025, in addition to their individual hiring plans.
4. What sectors are these companies focusing their hiring efforts on?
The recruitment focus includes semiconductors, biotechnology, artificial intelligence (AI), electrification, and software-defined vehicles (SDVs).
5. How does the government view these hiring initiatives?
The government supports these initiatives, urging companies to partner with them to address the urgent youth employment crisis in the country.
