[Monitor] Corporate hiring dives to 11-year low

The number of new employment planned by companies in South Korea during the second and third quarters this year dropped to the lowest in 11 years, according to the Employment and Labor Ministry.

The planned size of hiring is the smallest since the first quarter of 2009, when the figure had dropped to 208,000 due to the global financial crisis.

The crunch in the job market has been largely anticipated with the on-going COVID-19 pandemic that has led to delayed school openings, closings of private academies, decline in tourist numbers and enforcement of strict social distancing, according to the report.

(khnews@heraldcorp.com)