Samsung Electronics tops in payroll count, Coupang stretches most last year

[Photo by MK DB]

Samsung Electronics Co. remained the biggest employer among the Korea Inc. last year, while e-commerce giant Coupang Inc. stretched payroll most aggressively.

The number of employees hired by 76 Korean business groups with assets exceeding 5 trillion won ($4 billion) stood at 1,698,970 as of the end of 2021, according to a study published by local market researcher Korea CXO Institute on Thursday. Compared to a year earlier, it is up 3.9 percent.

Their combined employee count made up 11.7 percent of the country’s a total of 14.55 million workers registered with the country's employment insurance system as of December.

The largest employer was Samsung Electronics with a total of 109,253 employees. As a single company, Samsung Electronics was the only employer with payroll exceeding 100,000. Other large employers are Hyundai Motor with 71,880 employees, Coupang Fulfillment Services with 46,306 employees, LG Electronics with 38,388 employees, and Kia with 35,120 employees.

On the group level, Samsung topped the list with combined payroll of 266,854. Hyundai Motor Group had 174,952 employees, LG 158,791, and SK 117,438.

Coupang topped the list in the increase in payroll count last year.

The e-commerce giant hired 29,361 new employees to record a total of 72,763 workers last year. Its addition made up nearly half, or 46.1 percent, of the number of newly hired employees at 76 conglomerates, last year. Hyundai Motor group came next for expanding its workforce by 8,027.

Jungheung also showed big jump in payroll, from 1,536 employees in 2020 to 8,401 employees in 2021, following its acquisition of local rival Daewoo Engineering & Construction.

Samsung Group added 4,728 employees last year, Shinsegae 4,431, LG 4,158, Kakao 3,957, SK 2,596, Hyundai Heavy Industries 2,449, and Naver 1,795.

Meanwhile, seven business groups each shed over 1,000 employees.

Doosan laid off 4,317 workers, Hyosung 2,481, Hanjin 2,034, E-Land 1,878, KT 1,734, Kumho Asiana 1,242, and Amorepacific 1,082.

A total of 28 companies made the list of employers with 10,000 or more workers. That is two less compared to last year. Hyundai Marine & Insurance and Daewoo Shipbuilding & Marine Engineering were removed from the list with their payroll falling to 9,557 workers and 9,741 workers, respectively.

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