Massive Hiring Spree: South Korean Giants to Create 60,000 Jobs by 2029

South Korea's corporate landscape is set for a seismic shift as Samsung Group, alongside other major conglomerates, plans a massive hiring spree. The initiative aims to mitigate the nation's severe youth unemployment crisis and stimulate economic growth. According to Pulse, Samsung will spearhead the effort by hiring 60,000 employees from 2025 to 2029.

Hyundai Motor Group also unveiled plans to hire 7,200 new employees in 2025, with a further 10,000 jobs slated for 2026 in electrification and software-defined vehicles sectors. SK Group will add 8,000 staff in the latter half of this year, while LG Group targets 3,500 new hires in 2025, with a longer-term goal of 10,000 over three years.

Industry insiders emphasize the urgency of these efforts, which align with governmental push to expand job opportunities for young people. South Korean President Lee Jae-myung urged companies to collaborate with the government in tackling youth unemployment, highlighting sectors like semiconductors, biotechnology, and AI as key areas for sustainable economic resurgence.

(With inputs from agencies.)