Publications – Korea
By Ames Gross
August 2007
Published in SHRM Global Forum
South Korea’s economy is expected to grow by more than 4.5% in 2007.
Domestic spending is likely to grow more than expected, while exports will continue
to post double-digit growth. As Asia’s third-largest economy becomes more
knowledge-intensive, employment of professional technicians and knowledge workers
has also increased. In contrast, the demand for unskilled workers is expected
to decline. This article examines current HR trends in Korea and provides recruiting
and retention strategies for Western firms operating in Korea.
By Ames Gross
Price: $350
May 2007
Broadcast by Pacific Bridge, Inc.
These four "East Asian Tigers" underwent rapid industrialization
from the 1960s to 1990s. Today, they are fully modernized, yet HR and recruiting
trends continue to shift with changes in employment law and economic conditions.
This webcast provides an in-depth examination of the latest trends and provides
valuable information to help you successfully manage HR in these four countries.
This is a 90 minute, live web seminar which will include a 60 minute presentation,
followed by 30 minutes for Q&A.
By Ames Gross and Rachel Weintraub
July 2005
Published by Pacific Bridge, Inc.
Korea ’s economy has experienced moderate growth over the past few years, with a 3.1 percent GDP growth rate in 2003 and around a 4.9 percent growth rate in 2004. Nevertheless, the country’s employment rate has remained low, with only about a 2.0 percent growth rate in 2004; in 2003, the employment rate dropped around one-tenth of a percent. Korea’s unemployment rate remains around 3.6 percent, with the most significant job shortages in the trade, services and construction industries. Therefore, the Ministry of Labor (MOL), in cooperation with a number of other Korean ministries and government organizations, have been establishing new laws and regulations in order to improve the employment situation in Korea . The MOL was established to monitor and improve employment conditions in Korea, including employment security, accident prevention, job training and employees’ quality of life. Additionally, the Ministry of Education and Human Resources Development is responsible for HR development and the establishment of HR policies in Korea.
By Ames Gross and Caroline Tran
2002, Issue 5
Published in SHRM Global Perspectives, a publication of the Society for Human Resources Management Global Forum
Korea’s economy has recovered considerably from the Asia Financial Crisis of 1997, with annual projected economic growth rates of up to 6%. As a result of the economic revitalization, several workforce trends have recently emerged. Some of the more critical changes, which will be of interest to human resource professionals around the world, include implementing the five-day workweek, lowering unemployment, soaring demand for bilingual English and Korean speakers, more opportunities for women in the workforce, and the deterioration of the lifetime employment system. This article discusses Korea’s growing economic prosperity, and how the economy is shaping these new labor force trends.
By Ames Gross
July 2001
Published in Corporate Relocation News
In an effort to increase foreign direct investment and increase the number of foreign firms in Korea, the government has taken great strides in economic restructuring and global economic integration. With the economic changes comes employment changes, thus recruiting methods have had to adapt to today’s new work environment. Previously, lifetime employment and seniority-based merit systems were the norm in employment practices. Now, merit-bases systems and job changing are the norm. Although mass media and university screening exams are still in use, executive search firms are increasingly popular recruiting tools. Additionally, executive firms in search of employees have three candidates to choose from, including local employees, expatriates, and “returnees” (Koreans returning from the West to work in Korea).
By Ames Gross
Summer 2001
Published by Pacific Bridge, Inc.
After the Asia Financial Crisis (AFC) destabilized the economy and employment rates in Korea, the country has been making a widespread recovery, with rapid GDP growth and unemployment rates as low as 4.1%, down from 6.8%. This article discusses the major features and programs in the Korean employment sector, as these features affect hiring and recruiting tactics used by foreign firms. Topics covered include: an overview of the labor force, labor laws and regulations, National Social Insurance System, Medical Insurance System, worker’s compensation, labor unions and discrimination in the workplace.
By Ames Gross
Summer 1996
Published by Pacific Bridge, Inc.
In three decades, South Korea has transformed itself from a destitute, war-torn,
agricultural country, to a modern, industrialized nation at the threshold of
joining the Organization of Economic Cooperation and Development (OECD). In
1964, the average worker in Korea earned only US$100 per year, less than the
average Indian laborer. Korea’s per capita GNP of US$8,485 in 1994 is
30 times more then that of India. Korea is the world’s 12th largest economy
and the United States’ seventh largest trading partner. Furthermore,
with a growth rate of 8.4% in 1994, the Korean economy continues to expand
and grow in importance in the areas of global trade and manufacturing. Korea
is also the world’s largest manufacturer of DRAMS (Direct Random Access
Memory chips), the world’s second largest ship builder and its fourth
largest electronics maker.
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