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Overall hiring levels in South Korea are likely to remain “consistent” in 2013, with local businesses continuing to globalise. This comes after demand for bilingual professionals at senior levels was high last year, a survey by Robert Walters found.
But the job market proved to be stagnant during 2012 as firms did not increase headcount in 2012.
“Firms largely remained conservative over business expansion or recruitment last year,” said country manager at Robert Walters, Anthony Modrich.
“But when it comes to senior-level bilingual professionals, the recruiting competition escalated even further, which then led to a salary increase for the corresponding group.”
Hiring activities remained low in the banking sector where firms recruited on a replacement basis only. Employees in this industry were also hesitant to move jobs with the hiring process taking longer as employers scrutinised applications. “Very few significant changes are anticipated this year as the banking business is likely to remain highly challenging,” Mr Modrich said.
But the IT industry saw a slight increase in recruitment. With large Korean companies adopting new technologies such as networking, storage and big data management, the supply of specialists became crucial in order to implement and drive business growth, the report said. “Recruiting firms experienced soaring competition for these IT-related professionals, especially those who have experience in the corresponding industry,” said Mr Modrich.