LG pledges 39,000 youth jobs to join government youth job campaign

[Photo by Lee Chung-woo]

South Korea’s fourth-largest conglomerate LG Group has vowed to create 39,000 youth jobs over three years, becoming the third group to join the government-led job support program Youth HOPE On.

LG Group chairman Koo Kwang-mo on Thursday unveiled the group’s pledge to boost its hiring by 10 percent annually over the next three years during a partnership signing ceremony between the group and the Prime Minister’s office on the government’s youth job support program entitled “Youth HOPE ON” held at LG Science Park in western Seoul.

Under the partnership, LG will directly hire 10,000 workers each year over three years despite its splitting off of LX Group and folding of its smartphone business this year and indirectly create 9,000 jobs through support of related industries.

The plan includes a 150 billion won ($127.2 million) investment in the startup sector like the group’s startup tech fair LG Connect to add around 2,000 jobs. The group will also add 5,800 jobs by expanding partnership with universities focusing on software, battery and AI technologies. Another 1,200 jobs will be added through LG’s ESG programs including LG Social Campus and Local Value-up program.

[Photo by Lee Chung-woo]

LG has become the third participating group in the government’s job campaign, following Samsung and KT. The three groups have committed to creating a combined 81,000 youth jobs over the next three years.

Samsung Group pledged last month in a meeting with Prime Minister Kim Boo-kyum to create 30,000 jobs by 2024 by doubling enrollments at its training center Samsung Software Academy for Youth (SSAFY) to over 2,000 per year, on top of its earlier plan to directly hire 40,000 jobs.

KT’s CEO Koo Hyeon-mo promised to hire 12,000 employees over three years.

Prime Minister Kim is expected to meet with SK Group Chairman Chey Tae-won next Monday to discuss measures to bolster youth employment in the battery and biotech sectors and with Hyundai Motor Group Chairman Chung Eui-sun next month.

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]