Global Headhunting & Recruitment Solutions in South Korea
Why create a global recruitment strategy?
Creating a global recruitment strategy is essential for businesses that operate in multiple countries or regions. Such a strategy can help a business find the best talent from around the world, while also ensuring that they are following applicable laws and regulations.
- 1. Helps to standardize the recruitment process across different locations and ensure that all candidates are subject to the same criteria and standards. This helps to ensure a level playing field, reduce bias, and ensure that the best talent is identified. It also helps to ensure that a business is compliant with applicable laws, such as anti-discrimination laws, and can demonstrate due diligence in their hiring practices.
- 2. It enables businesses to attract talent from different cultures and backgrounds, which can help to create a diverse and inclusive workplace. This can lead to a range of benefits, such as improved engagement, higher productivity, and better customer service.
- 3. It can help ensure that a business is able to identify the right skills and qualifications for the roles they are seeking to fill. By having a standardized recruitment process, businesses can ensure that they are selecting the right candidates for the right roles.
Why hire talents in South Korea?
There are several reasons why companies may choose to hire talents in South Korea:
- Skilled workforce: South Korea is known for its highly skilled workforce, especially in industries such as technology and engineering.
- Strong work ethic: South Koreans are known for their strong work ethic and dedication to their jobs.
- Education system: South Korea has a highly competitive education system that emphasizes the importance of academic achievement, resulting in a highly educated workforce.
- Innovation and technology: South Korea is a hub for innovation and technology, with a strong focus on research and development.
- Strategic location: South Korea is located in a strategic location in East Asia, providing access to the wider Asia-Pacific region.
- Government support: The South Korean government offers various incentives and support programs to attract foreign investment and promote economic growth.
How much does it cost to hire talent in South Korea?
The cost of hiring talent in South Korea varies depending on the industry, job position, and the experience level of the candidate. According to some sources, the average cost of hiring a new employee in South Korea can range from KRW 30,000,000 to KRW 60,000,000 per year (approximately USD 25,500 to USD 51,000). This cost includes salary, benefits, taxes, and recruitment expenses. However, it’s important to note that these figures are only estimates, and the actual cost can differ based on various factors.
Employee labor laws in South Korea
Working Hours in South Korea
In South Korea, the legal maximum working hours are 40 hours per week, with a maximum of 12 hours per day. The standard workweek is Monday to Friday, with Saturdays typically considered a half-day.
Minimum wage
As of January 2023, the minimum wage in South Korea is KRW 9,280 per hour. This is the nationwide minimum wage and is applicable to all industries and regions in the country. However, certain industries may have their own minimum wage standards that are higher than the national minimum wage.
General taxation
|
Taxable Income Range
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Tax Rate
|
|---|---|
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Up to KRW 12 million
|
6%
|
|
KRW 12 million to 46 million
|
15%
|
|
KRW 46 million to 88 million
|
24%
|
|
KRW 88 million to 150 million
|
35%
|
Hire the best talent in South Korea with EER Global
EER Global provides a comprehensive, experienced and tailored approach to finding the best talent for your business. They can assess and identify the right candidate for your specific role, allowing you to save time and money on hiring the wrong person.
With their industry experience and network of contacts, they can connect you with the best talent on the market, helping you to fill your positions quickly and efficiently. They can also provide valuable insights and advice on the hiring process, helping you to make the best decisions for your business. EER Global has a department that specializes in recruiting in South Korea, contact us today for more information.
