Korean Job Discussion Forums

[Real Reality]

Jobs disappear
Reports say that the number of jobs in Korean manufacturing industries declined by 75,000 in the first half of this year. That is the biggest job loss since the first half of 1999, directly after the 1997-98 financial crisis, when the number of manufacturing workers fell by 104,000.... the number of unstable jobs in small service businesses with poor working conditions is increasing....

Samsung Electronics recently decided to set up a semiconductor wafer production company with capital of $400 million in Singapore in a joint venture with a German company. To attract that plant, which would employ 800 people, the Singapore government offered exceptionally good conditions, including corporate tax exemptions for 15 years and government subsidies of $27 million. The plant could have been built in Korea if the conditions were proper. Why can't the Korean government attract such investment? Far from offering preferences, the Korean government, with its regulations, is driving out the existing investors in Korea and causing job reductions.
JoongAng Daily (July 18, 2006)
http://joongangdaily.joins.com/200607/18/200607182113135409900090109011.html

Manufacturing Jobs on Decline
Manufacturing jobs are disappearing at a faster rate than expected as more companies move their plants to foreign countries to take advantage of cheap labor and easier access to new markets.
By Lee Hyo-sik, Korea Times (July 18, 2006)
http://times.hankooki.com/lpage/biz/200607/kt2006071818270411880.htm

Korea's Business Sector Is Suffering
Businesses are feeling the burden of the worsening economic environment. International oil prices are at an all time high and the value of the won is getting higher.
Donga.com (July 19, 2006)
http://english.donga.com/srv/service.php3?bicode=020000&biid=2006071904958

Ssangyong will lay off 986 employees this fall
by Kim Tae-jin, JoongAng Daily (July 19, 2006)
http://joongangdaily.joins.com/200607/18/200607182201069509900090509051.html

Kia Workers Begin Partial Strike
Korea Times (July 18, 2006)
http://times.hankooki.com/lpage/nation/200607/kt2006071817002911990.htm

Construction Strike Brings POSCO Projects to a Halt
Striking construction workers occupied the headquarters of Korea�s largest steelmaker POSCO on Tuesday as part of a protest that have been running for 19 days, the company said Tuesday. The strike halted work on POSCO�s next-generation Finex forge, which is scheduled for completion late this year. It is also delaying upgrades to the steelmaker�s production facilities intended to tackle intense competition especially from Chinese rivals.
Chosun Ilbo (July 18, 2006)
http://english.chosun.com/w21data/html/news/200607/200607180034.html

Electronics, chemicals, steelmakers suffering
By Yang Sung-jin, The Korea Herald (July 18, 2006)
http://www.koreaherald.co.kr/SITE/data/html_dir/2006/07/18/200607180006.asp

[Real Reality]

Was that "the Hub of Asia?"

[stevenisi]

Hm. Will this mean a higher demand for English?

[flotsam]

[cwemory]

[uber1024]

This could ... COULD ... be some indication that South Korea is making the change from an industrial economy to a service-based economy. It was painful for a long time here in the United States while we reinvented our economy and we still struggle with it at times.

[Real Reality]

Pohang woes

http://news.joins.com/component/htmlphoto_mmdata/200607/htm_2006071921574790009040-001.JPG
JoongAng Daily (July 20, 2006)
http://joongangdaily.joins.com/200607/19/200607192158070639900090409041.html

Union workers at GM Daewoo resume partial strike after talks fail
Unionized workers at GM Daewoo Auto & Technology Co. said Wednesday they resumed a partial strike after talks with the management to defuse the labor unrest collapsed.
Yonhap News (July 19, 2006)
http://english.yna.co.kr/Engnews/20060719/440100000020060719160145E9.html

[endofthewor1d]

[blaseblasphemener]

[Missile Command Kid]

[cdninkorea]

[caniff]

I think I'm getting verklempt! (sp?)

[alinkorea]

Getting back to the original post. It's a classic example of de-industrialization. It's been seen in the last 25 years in all the major economies of the world. Now Korea is one of the economic big boys, it's manufacturing base is likely to continue to diminish. Due to the fact it becomes less economically viable to pay the relatively high wages of Korean manufacturing workers. Thus companies simply pick up and move to a country with cheaper labour.