Republic of Korea
- About Republic of Korea
- Working conditions
- Sectors and companies that are recruiting
- Applying for a job
- Major recruitment pointers
- Recruitment Resources and networks
1. About Republic of Korea
Since the 1960s, Republic of Korea has achieved an incredible record of growth and global integration to become a high-tech industrialized economy. Four decades ago, GDP per capita was comparable with levels in the poorer countries of Africa and Asia. In 2004, Republic of Korea joined the trillion dollar club of world economies, and currently is among the world’s 20 largest economies. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The government promoted the import of raw materials and technology at the expense of consumer goods, and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 exposed longstanding weaknesses in Republic of Korea’s development model including high debt/equity ratios and massive short-term foreign borrowing. GDP plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. Korea of Republic adopted numerous economic reforms following the crisis, including greater openness to foreign investment and imports. Growth moderated to about 4-5% annually between 2003 and 2007. With the global economic downturn in late 2008, Republic Korean GDP growth slowed to 0.2% in 2009. In the third quarter of 2009, the economy began to recover, in large part due to export growth, low interest rates, and an expansionary fiscal policy, and growth exceeded 6% in 2010. The Republic of Korea’s economy long term challenges include a rapidly aging population, inflexible labor market, and overdependence on manufacturing exports to drive economic growth. Republic of Korea is nr. 9th for the size of Trading countries of worldwide in 2011.
Read more: Information about Republic of Korea at www.cia.gov
Population: 48.8 million
GDP per inhabitant (2011): USD 27,000-
Unemployment rate (09/10): 3.7%
2. Working conditions
Working in Korea may be a challenge for foreigners who are unwilling to put in the hours and efforts that many Korean nationals are used to. Korea has one of the highest average workweeks and overtime hours in the world. With their rigorous work ethic, you can expect to go beyond your own standards to keep up. However, if you can be committed, the people around you will in return be committed to you. The idea of developing personal relationship in the workplace may seem foreign to those who are not used to South Korean culture. However, the idea of building trust with other employees is crucial to Koreans in and out of the office. Trust motivates the people; therefore focus on making lasting, personal relationships to show your commitment. Also, keep in mind that while strong personal relationships are encouraged, a ranking of position still exists. Getting too personal may come off as being disrespectful. If you do not give respect where it is due, it is likely that Koreans will be offended.
Korean people are known for their intelligence and work ethic. It is no wonder why the country has one of the highest average annual work hours. If you’re planning to find employment in South Korea, you better be prepared to put in a lot of hours and effort. You will be glad you did this because most Korean businesses offer generous bonuses and ample paid vacation time. Luckily, recent law changes have dropped the maximum workweek and adopted a 5-day workweek system. Unless you are planning to work for a smaller company (with 5 regular employees or less), the new law applies to you as well. Although some contracts do allow for minor adjustments in hours, the average workweek in any 2-week period is not to exceed the maximum 40 hours. Also, workers may not be required to work more than 12 hours in any given day. Unluckily, however, little attention seems to be paid to the 40-hour workweek legislation. Most people still work late, with the end of working day often reaching the late evening hours.
Read more: Information about Working conditions in Republic of Korea from justlanded.com.
Legal working hours : 40.0 hours per week.
Length of trial / notice period: Generally at least 3 months.
Employment formalities: Working Visa to be processed by the Korean Ministry of Labor for temporary foreign employees. Foreign Temporary Employees have to renew their visas within a given term.
3. Sectors that are recruiting
Industry, Engineering & Construction, Tourism, Services, Finance, IT / Telecommunications , Public, FMCG, Retail & Luxury Goods, Bio, Pharma & Energy and so on.
Companies that are recruiting: At the moment, most companies are planning to downsize the number of new recruits. However, major Korean conglomerates such as Samsung, LG, Hyundai, Doosan, STX, Hanwha, CJ, SK and so on would still hire experienced workers only. Multinational companies operating in South Korea, and many companies whose work are related to foreign network, broadcasting system, language education institute, dot-com enterprises would give more chances for new hiring.
4. Applying for a job
Professionalism is KEY! Above all else, remember that the application process is nothing short of serious. The people responsible for reviewing applications and CV’s want only the best which, in Korea, usually translates to the most professional candidate. Follow these few steps on preparing your application and corresponding documents so you can be ready to compete in the business market.
Advice regarding the CV: Writing an application
You can expect that most companies already have a common application form for their applicants. And although some may offer an English version, there is a chance that others will not. In such a case, it is best to have someone reliable to help you translate the document. It is important that you don’t make mistakes on an application because that will be the first thing a company will see and notice about you. Leave a good, lasting impression from the start.
The cover letter is going to be the thing that sets you apart from everyone else applying for the job. The application may show the employer some things about you, but the cover letter is your voice on paper. While maintaining your professional stance, set yourself apart from the rest of the applicants. Explain why you would be a good fit for the position without sounding arrogant or fake.
Presentation of CV
Use your curriculum vitae to sell yourself and open your potential employer’s eyes to your worth.
Order
Always take the professional approach when writing your CV. Korean employer’s attribute professionalism to seriousness and hard work. Show that you are capable of doing the job by organizing your thoughts clearly and orderly.
Introduction/Biography
List your full name, address, e-mail address, phone number (with your appropriate country dialing code) and any other contact information that you find necessary. After you introduce yourself with all your personal information, briefly touch on your skills (computer, language, etc). This section should be concise and straightforward. It is best to only include key words instead of lengthy, flowery sentences.
Objective
Explain in one or two statements the position for which you are applying for and why. This will show the employer the goals you have set in mind for yourself and the company.
Experience and Education
This is where you list your past experiences and special awards. Starting from the most recent, name the company(ies) for which you have worked and any special honors you achieved while working. After professional experience you should list the details of your education and enrollment in other non-academic institutions if they pertain to the job at hand. Similar to work experience, in the order of the most recent, list the university(ies)/college(s) you have attended and any degrees and/or honors you may have obtained. Each educational institution should be accompanied by a date and location, final grade average, study abroad experience, extracurriculars or clubs, etc. You may also list your high school/secondary school experience. The employer should get a good idea of your qualifications from this section.
References
In case an employer wants to further investigate your accomplishments and find out more about you in general, he or she may want a list of professional and personal references. Make wise choices about who to include in your list and don’t forget to include their contact information and relation to you. Even if the employer does not utilize this tool, it is helpful to have it readily available just in case.
Read more: Information about Republic Korea at www.justlanded.com/.
5. Major recruitment pointers
Business Etiquette/knowing how to behave during interviews:Bow your head first in greeting, and then shake hands if given by the recruiter. Receive the name card in two hands if given by the recruiter. Show your confident, bright, high-spirited attitude. Answer questions simply. (Skip the details, just give interviewers the bottom line). Show your practical experience focused on what you achieved and developed in your previous experience. Demonstrate your enthusiasm towards the role, professionalism, flexibility and competence.
As discussed earlier, there is no room for arrogance in Korean culture, especially when doing business. As the interviewee, you are expected to show respect to a potential supervisor and loyalty to the company to which you are applying. Korean culture suggests that deviating from such traditions during an interview is easily perceived as an insult and nearly unforgivable.
Understand your position
Take the initiative and bow first, since you are in a lower position than your interviewer. Shaking hands is reserved for more personal relationships, so unless the interviewer extends his/her hand first, you are expected to bow.
Do not interrupt
Whatever the interviewer has to say is not to be taken lightly and therefore should be heard throughout. It is merely a sign of respect to allow the interviewer to control the floor.
Speak modestly
Whether you are listing prior experiences or sharing any other information, do not be boastful. Arrogance is considered insulting as humility is an inherent quality in the Korean culture.
Show your interest
One of the main points of the interview is to test your loyalty to the company. The interviewer already knows your stats and history of experience, but he/she must be convinced that you are serious about working for that specific company.
Languages you must be able to speak: Up to the position you may apply. English is mandatory almost in every cases; Korean.
Flagship training:Prestigious major Universities: Seoul National University, Yonsei University, Korea University, Ewha Women’s University/Science & Technology: KAIST, Pohang University of Science and Technology, Hanyang University/University for Language: HUFS/University for Mass Communucation & Jounalism: Chungang University/ University for Law: Korea University/University for Business Administration: Seoul National University, Yonsei University, Sogang University/University for Hospitality and Tourism management: Kyunghee University, Sejong University.
Compensation&Benefits / Taxes: Compensations and benefits are totally up to the position you may apply, and in the case of taxes, please refer to the following website for details. Comp and Benefit in Korea. Also, Company car, laptop, mobile can be offered. (Usually high positions).
6. Recruitment resources and networks
Important business networking sites:
www.linkedIn.com
www.facebook.com
www.incruit.com
www.jobkorea.com
www.peoplenjob.com
Where to network:
AMCHAM, EUCCK, KGCCI, Cyworld.
