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Korea’s public sector to offer largest recruit placements next year

Collected: 2016.10.26

Distributed: 2016.10.27

Source: Go Direct

The South Korean public sector will offers new jobs for 19,000 next year, the biggest-ever placement for young recruits in hopes to compensate for worsening job conditions in the private sector grappling with poor domestic and external demand and corporate restructuring.

Additional jobs for 4,000 on top of planned quota of 15,000 will be available in 313 public institutions next year by using the new labor system called wage peak that allows cut in salaries for older employees to make room for new recruitments, said an unnamed official at the Ministry of Strategy and Finance.

The deputy prime minister for economy will announce the plan at the Seoul Job Fair next month, he said.

Hiring from the public sector decreased to 17,672 last year from 17,856 in 2014 after the legal retirement age was pushed back to 60 from 58.

The ministry in February announced the public sector would hire extra 4,400 this year by using the saved cost from wage peak system.

By Lee Seung-yoon

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