Salary and Hiring Trends in Korea for 2016

May 9, 20168:18 am1427 views

Increased hiring by international and high-tech firms is likely to continue in 2016, with several global companies planning to enter the Korean market during the year. In particular, companies that have already achieved success in China and Japan see Korea as their next development priority in Asia.

According to a recently released report by Robert Walters releasing salary trends in Korea for 2016 is in its 17th edition provides insight on global and South Korean recruitment trends as well as salary levels by role and sector.

Korea has the world’s highest penetration of Shrimartphone ownership, creating significant m-commerce potential for companies. As a result, candidates with proven digital marketing experience will be in high demand from mobile app and web businesses.

Companies in the gaming sector are likely to face particular difficulties in attracting proven developers, due to high levels of competition and a scarcity of talent. Job titles are also very important in Korea, so we recommend that employers consider using promotion as a key aspect of their retention strategies.

Hiring trends in Korea in 2016 

A number of international legal and insurance firms, only recently allowed access to the country by new trade agreements, arrived in South Korea during 2015. This meant that professionals in both these areas were highly sought-after.

Recruitment activity was also strong in the hi-tech sector during the year. The country has the world’s highest penetration of emerging mobile and digital technologies, driving high levels of demand for suitably qualified and experienced professionals.

Increased hiring by international and high-tech firms is likely to continue in 2016, with several global companies planning to enter the Korean market during the year. In particular, companies that have already achieved success in China and Japan see Korea as their next development priority in Asia.

See: South Korea to create 200,000 jobs for youth until 2017

HR Trends in Korea for 2016

In the past, the HR profession in Korea has largely focused on administration. Increasingly, the emphasis is on forging partnerships with other areas of the business. With growing candidate shortages we anticipate that referral and incentive schemes, which reward employees for recommending a successful candidate, will become increasingly common.

HR professionals who already have proven experience and training in improving recruitment processes and staff retention will command premium salaries. Trade unions are exceptionally powerful players in Korean industrial relations, and HR professionals with the ability to negotiate effectively and build constructive relationships with the unions, will have increasing value in 2016.

Alongside Japan, South Korea is one of the world’s two most active markets for mobile and online gaming – over 90% of iOS and Google Play revenue in the country comes from games. As a result of this immense popularity, we expect that competition for successful developers will be intense in 2016, driving salaries significantly higher as the year progresses.

Korea’s shifting emphasis towards digital marketing will continue in 2016, meaning that professionals with online and mobile marketing experience will be in greater demand than those with traditional marketing backgrounds.

However, these specialists are in short supply and we expect to see salaries inflate in this area. Due to the popularity of Korea as a destination for Chinese tourists, Chinese-speaking retail store managers will also be in demand, although we anticipate that hiring managers will struggle to find suitable candidates for such specific roles.

Also read: Workplace Attire: Difference between Dressing down And Becoming an Enterprise Fashion-Casualty

Image credit: teleportmyjob.com

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