The four major conglomerates (Samsung, SK, Hyundai Motor, and LG)—key pillars of the domestic economy responsible for approximately 40% of total large-business employment—saw a simultaneous decline in their workforce. This is attributed to a combination of factors, including sluggish performance in key sectors like petrochemicals and secondary batteries overshadowed by the semiconductor boom, and mass retirements of the baby boomer generation. Analysts also suggest that the acceleration of artificial intelligence (AI) and automation adoption has pushed large corporations to a critical limit in their ability to create new jobs. These findings were revealed on the 22nd by the Korea CXO Research Institute, a corporate analysis specialist, which examined employment changes (including executives and staff) among 102 large-business groups with assets exceeding 5 trillion Korean won, comparing the end of 2024 to the end of 2025. The four conglomerates account for 38.2% (approximately 734,000 people) of the total 1.92 million employees across the 102 groups. A contraction in their workforce directly impacts overall large-business employment in the country. Within the four conglomerates alone, employment fell by 12,300 people over the year. Samsung, the nation’s largest employer, saw a reduction of 931 people, marking the first decline in seven consecutive years of employment growth since 2017. SK reduced its workforce by 3,699 people, Hyundai Motor by 2,375, and LG by 5,370—the largest drop among the four. While the 102 groups collectively increased employment by 0.4% (from 1,912,302 to 1,920,500 people), excluding the effect of Ourhome’s acquisition by Hanwha Group (which added approximately 10,000 employees), the trend was downward. A source from the CXO Research Institute analyzed, “The results show that large corporations’ capacity to generate new jobs is not what it used to be.” Coupang was the exception. The company and its affiliates added 8,250 employees over the past year, the largest increase among domestic large-business groups excluding Hanwha (which rose by 14,324 people due to the Ourhome acquisition). Coupang surpassed SK Group (104,602 people) for the first time last year, breaking the 100,000-employee mark (108,131 people). The domestic employment ranking was restructured to Samsung-Hyundai Motor-LG-Coupang. High-quality large-business jobs have decreased, while platform-sector employment has grown. (ICE SEOUL)

Fonte notizia: The Chosun Daily