Over 70% of firms plan to hire new workers this year: poll

More than seven in 10 South Korean firms are planning to hire new employees this year amid an economic recovery, a poll showed Tuesday.

The survey of 508 companies with 100 or more workers showed 72 percent of the respondents replying they have plans to recruit new employees this year.

Some 17 percent answered they have no hiring plans for this year, with about 11 percent remaining undecided.

Commissioned by the Korea Enterprises Federation (KEF), South Korea's largest business lobby by membership, the survey was conducted from Feb. 21 to March 4.

Of the businesses with hiring plans, some 60 percent said they will hire a similar number of workers to last year's level, with about 31 percent planning to employ more.

The remainder answered they will cut back on the employment of new workers.

The KEF said more companies appear to be planning to hire new employees this year as Asia's fourth-largest economy recovers from the fallout of the coronavirus pandemic.

The Bank of Korea, South Korea's central bank, has predicted the local economy to expand 3 percent this year from a year earlier, with the government anticipating an on-year growth rate of 3.1 percent. (Yonhap)