Monday, September 06, 2004


In today's Korea Herald.
Samsung Group, Korea's top conglomerate, said yesterday it will increase hiring 20.2 percent this year, raising hopes that other companies will follow suit and ease the country's lengthy job drought.

The group plans to recruit 5,000 people in the second half, on top of 3,060 hired in the first, bringing its yearly employment target to 8,060, up from 6,700 in 2003
A sign that the ROK's most successful chaebol continues to do well? Probably.

I got a chuckle out of how relative perceptions of economic conditions are:
Korea's job market has remained in the doldrums as local companies have scaled back their investment plans amid lingering economic uncertainties at home and abroad. The nation's booming exports have also failed to translate to brisk hiring, which is considered the key to increasing household income and reviving domestic demand.

State data showed that Korea's seasonally adjusted unemployment rate rose to 3.6 percent in July from 3.5 percent in June.
3.6 percent = "the doldrums"? The Bush Administration would kill for a 3.6% unemployment rate!

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