| Shinsegae Group will hire a record-high number of employees by introducing hour-based regular employment.
At its strategic meeting on Monday, Shinsegae Group decided to employ 7,000 new workers in the second half of this year, following recruitment of 17,000 employees in the first half. It has also decided to invest a record 2.5 trillion won (2.2 U.S. billion dollars) this year.
Shinsegae Vice Chairman Chung Yong-jin said, "Though domestic and external economic conditions remain bleak, we decided to expand investments and jobs to help boost the economy," adding, "Most of our investments are domestic-oriented since we are a retail company. New recruitments will lead to massive job creation."
Shinsegae`s new hiring number for this year (24,000 new workers) is a record high. A total of 11,000 non-regular workers who turned to regular positions in April and May this year are included. Excluding them, however, the newly employed people (13,000 people) are 1.7 times that of last year when the retailer employed around 7,500 new workers.
The plan to hire 7,000 more in the second half includes time-based regular employees. A Shinsegae source said, "We will announce details of recruitment size and area soon."
Shinsegae will steadily increase the number of non-regular workers turning regular positions to raise work efficiency. In April and May, the retailer employed E-Mart and Shinsegae Department Store`s salespersons and display workers who were hired by contract companies as regular employees.
It`s a surprising decision to invest an additional 1 trillion won (897 million dollars) in the year`s second half following 1.5 trillion won (1.3 billion dollars) in the first half. With 500 billion won more than what Shinsegae initially planned, the 2.5 trillion won investment is around 10 percent more than last year`s.
Investment will focus on purchasing sites for department and discount stores. Shinsegae Department Store will invest in a complex shopping mall in Hanam City, while investing in buying a land for East Daegu transfer center and building up Busan Centum City. E-mart will concentrate on obtaining new land sites, renewing domestic and overseas stores and strengthening online malls. In the outlet sector, Shinsegae Simon will open a premium outlet in Busan at end-August.
Shinsegae Group typically announces investment and hiring plans at the beginning of the year. The belated decision this year is known to have come as it was observing situations due to the change of government and internal problems including suppression of labor union.