GS Group to hire 9,700 youths by 2017

GS Group chairman Huh Chang-soo has pledged to create 9,700 jobs for young Koreans by 2017 and implement the wage peak system across all of the group’s affiliates from next year, group officials said Sunday.

“A continued influx and growth of young talent is the backbone of a vibrant local and national economy,” Huh said in a corporate meeting attended by the heads of major GS affiliates and high officials. 

The meeting was held for two days in Chuncheon, Gangwon Province, on Friday and Saturday.

“We will continue to expand investments and pursue sustainable growth to create new jobs,” the GS chairman said.

The industrial conglomerate plans to recruit a total of 3,600 university graduates and interns this year, up by 400 compared to last year, and hire a total of 9,700 new employees by 2017.

GS will also collaborate with a number of universities to offer chemical engineering-focused educational programs and mentoring services led by high-level GS officials to 800 university students.

In a bid to cut labor costs and hire more young talents, GS is set to expand the wage peak system -- which reduces an employee’s salary after a certain age in exchange for extending the retirement age -- across all of its subsidiaries by 2016.

Core GS affiliates including GS Caltex, GS Energy, GS Retail and GS Home Shopping have already implemented the new wage system, which has been pushed by the government and adopted by a number of other conglomerates like Samsung, LG and Lotte.

By Sohn Ji-young (jys@heraldcorp.com)