Top four S. Korean companies have fewer young workers

It was found that executives and employees in their 40s and over outnumbered those in their 20s and below for the first time last year in Samsung Electronics. Also, it turned out that those aged below 30 accounted for less than 30 percent in the country’s four largest companies including Samsung Electronics. It may have resulted from changes in their recruitment structure following the slowdown of new business development coupled with demographic shifts such as low birthrates and population aging.

According to an analysis of Samsung Electronics’ 2008-2024 sustainability reports done by The Dong-A Ilbo on Thursday, out of its 267,860 executives and employees as of last year, those aged less than 30 totaled 72,525, and those in their 40s and over amounted to 81,461. For the first time last year, the share of the former age group went below 30 percent, but that of the latter surpassed 30 percent. In 2008 when the report was first published, 59.6 percent were those in their 20s and below while those aged 40 and over accounted for 10.2 percent.

A workforce younger than 30 took up less than 30 percent in all the four largest South Korean companies - Samsung Electronics, SK hynix (29.6 percent), Hyundai Motor Group (12.6 percent) and LG Electronics (18.4 percent). In particular, SK hynix saw the share of its executives and employees aged less than 30 working at home and abroad go down to less than 30 percent for the first time in 2022. Similarly, domestic and overseas workers aged 50 and above at Hyundai Motor Group outnumbered those aged 30 to 49 who bridge the younger and older workforces the same year.

According to the analysis, it has to do with the country’s demographic changes as the median age increased from 36.7 in 2008 to 46.1 this year. Additionally, it is analyzed that such a change in the corporate workforce has been affected by companies’ switch from large-scale “open recruitment” to hiring experienced workers on an as-needed basis with new business models losing momentum.


홍석호기자 will@donga.com