A recent report highlights that employment among South Korea's largest 500 companies dropped by 6,729 workers in the past year, reflecting broader trends in the economy. According to CEO Score, which conducted the study on 476 firms after excluding those with major mergers and acquisitions, the total workforce of these companies stood at 1,625,526 as of December last year, showing a 0.4% decrease compared to the previous year. Notably, 52.3% of the firms reduced their headcount, whereas 46.6% reported an increase in employment.

The data reveals that large companies such as LG Electronics, Emart, and Hyundai Motors experienced the most significant reductions in workforce size, with LG alone reducing its numbers by 5,341 employees. Conversely, some companies, including CJ Oliveyoung and SK Hynix, managed to expand their workforce, indicating pockets of growth amid the overall decline. The increase in employment in sectors like K-beauty and semiconductors can be attributed to booming market demands, suggesting that not all sectors are suffering equally during this economic phase.

This employment shift among South Korea's major corporations raises concerns regarding the sustainability of job growth in the face of economic challenges. The decrease in staffing among most of the country's top 10 conglomerates indicates potential adjustments in response to market conditions and future uncertainties. Experts suggest this trend could impact consumer spending and economic recovery efforts, as job security remains a vital component of economic vitality.