Employment at South Korea's major conglomerates contracted overall, but some industries and companies bucked the trend by expanding hiring, according to a new analysis. SK hynix (000660.KS) stood out by adding roughly 2,000 employees despite a slowdown in the chip cycle.
Leaders Index, a corporate analysis institute, examined staffing changes at 316 of Korea's top 500 companies by revenue. Total headcount fell by 5,046 — from 1,234,616 in 2024 to 1,229,570 in 2025, the data released Wednesday showed.
The number of rank-and-file employees dropped by 4,937, or 0.4 percent, to 1,218,532. Executives declined by 109, or 1.0 percent, to 11,038 — a steeper rate of reduction. As a result, the ratio of employees per executive edged up from 109.8 to 110.4.
The telecommunications sector took the biggest hit. The three major carriers shed a combined 3,209 workers over the year, a 9.7 percent decline. KT (030200.KS) led the cuts with 2,226 fewer staff, followed by LG Uplus (032640.KS) at minus 806 and SK Telecom (017670.KS) at minus 177.
The retail sector also continued to trim headcount amid weak consumer spending. Large-scale reductions at E-Mart (139480.KS), which cut 1,473 positions, and Lotte Shopping (023530.KS), which cut 1,120, drove a sector-wide decline of more than 2,800. Companies with brick-and-mortar-heavy business models saw the steepest workforce adjustments.
The petrochemical industry lost 2,373 workers as prolonged sluggish conditions and deteriorating profitability accelerated workforce streamlining. Executive reductions ran nearly twice the rate of rank-and-file cuts. LG Chem (051910.KS) shed 988 employees and Lotte Chemical (011170.KS) cut 415, among other major players downsizing across the board.
In contrast, the shipbuilding and defense sector expanded employment sharply on the back of rising orders. Industry headcount grew by 7,032, an increase of about 8 percent. Hanwha Ocean (042660.KS), LIG Nex1 (079550.KS) and Hanwha Aerospace (012450.KS) led new hiring, underscoring a stark divergence between industries.
Among individual companies, SK hynix posted the largest workforce increase at 2,159. Kia (000270.KS) added 819 and Samyang Foods (003230.KS) added 635, both reinforcing their growth foundations.
On the other end, Hyundai Motor (005380.KS) recorded the steepest decline at 2,539. KT, LG Electronics (066570.KS) at minus 1,583, and E-Mart followed. Samsung Electronics (005930.KS) also trimmed headcount by 599.
"Considering that average tenure has lengthened even as overall headcount declined, companies are shifting toward retaining existing staff while curbing new hiring," Leaders Index said.
