18 January 2024
JAC Group, which operates recruiting businesses in 11 countries around the world, has summarized the market trends for recruitment in Korea, where it has offices, from October to December 2023.
Number of job offers YOY：78%
Number of job openings YOY (past 3 years)：
| 2021 | 2022 | 2023 | |||||||||
| Jan - Mar | Apr - Jun | Jul - Sep | Oct - Dec | Jan - Mar | Apr - Jun | Jul - Sep | Oct - Dec | Jan - Mar | Apr - Jun | Jul - Sep | Oct - Dec |
| 102％ | 167％ | 88％ | 117％ | 90％ | 96％ | 84% | 125％ | 104％ | 73% | 169％ | 60% |
Analysts project a stronger economy for Korea in FY2024 compared to the current year. While the semiconductor industry remains a concern, exports saw growth in the October-December period and are expected to continue rising.
Hyundai Motor Company's increasing popularity domestically and internationally, alongside news of expansion and record-breaking promotions, adds to the positive outlook for the nation.
Job openings decreased in the October-December period compared to the previous quarter. While niche fields sought new graduates and potential candidates from July-September, a shift occurred towards seeking experienced professionals (aged 30-35) in the last quarter.
The demand for English speakers among Japanese companies has steadily increased, reflecting Korean companies' expansion into neighboring and European markets. Though the semiconductor and rechargeable battery industries faced challenges in 2023, the outlook for the coming year is positive, driving continued demand for sales professionals.
Job seeker activity naturally slows down in Korea between December and the Chinese New Year in February, particularly among employed candidates who wait for bonus assessments before considering new opportunities. These candidates are likely to stay with their current employer unless offered a significantly attractive package (salary, benefits, job description, and position).
To understand Korean job seeker preferences, we conducted a survey of 100 Japanese-speaking candidates. While many expressed satisfaction with working for Japanese companies, recurring concerns emerged:
- Limited Career Advancement: Many felt career progression was hindered by Japanese expatriates holding top positions.
- Conservative Culture: Some viewed the work environment as lacking flexibility or dynamism.
These findings suggest that Japanese companies in Korea need to adapt their recruitment strategies to address these concerns. Offering clear career paths and promoting a more progressive work culture could significantly improve their attractiveness to qualified Korean candidates.
JAC Recruitment Korea Managing Director
Sayaka Suzuki
■JAC Recruitment Korea Overview
https://www.jacgroup.com/en/locations/country/korea
■JAC Recruitment Korea Website
https://www.jac-recruitment.kr/en
【JAC Recruitment Asia: Job Listing Comparison Report (Previous Quarter and YOY)】
| Change from previous period (Jul.-Sep.) | Year-on-year comparison | |
| Singapore | 91% | 80% |
| Malaysia | 87% | 99% |
| Thailand | 79% | 130% |
| Indonesia | 117% | 94% |
| Vietnam | 91％ | 155％ |
| Korea | 60％ | 78％ |
| India | 79％ | 122％ |
| Japan（※） | 95% | 100% |
*Recruitment related to overseas business of Japanese companies
Note: The number of job openings at Asian companies may increase or decrease depending on the strategies intentionally adopted by the Asian companies (e.g., specializing in jobs with high annual salaries or jobs for specialists). Therefore, increases or decreases in the number of job openings at Asian companies do not directly reflect the performance of each company.
