South Korean firms cut new hires by 15% in 2 years, favoring older workers over youth

South Korea's leading corporations have significantly cut new hiring over the past two years, resulting in a 15% decrease in overall recruitment. This trend has led to a shrinking proportion of young workers and a growing number of employees aged 50 and older, a phenomenon described as a "generational reversal."

Analysis of employment data from 132 major companies between 2023 and 2025 reveals a slight overall decrease in total employment by 0.3%. However, the decline is stark among younger workers. Those under 30 saw their numbers drop by 13.8%, from 267,343 to 230,034. In contrast, the number of employees aged 50 and above increased by 4.8%, from 221,333 to 231,848.

Consequently, the share of workers under 30 in the total workforce decreased from 21.2% to 18.3%. Meanwhile, the proportion of those aged 50 and older rose from 17.5% to 18.4%. "This is attributed to a slowdown in workforce turnover, as new hiring has decreased while existing employees are delaying retirement," explained the report by Leaders Index, a corporate analysis research institute.

New hiring figures mirror this trend. Among 113 companies that disclosed their recruitment numbers, total new hires fell by 15.3% from 109,456 in 2023 to 92,680 in 2025. The proportion of new hires under 30 also dropped significantly, from 56.4% to 51.1%. Conversely, the share of those aged 50 and above in new hires increased from 8.3% to 11.2%.

Industries with a high domestic consumption focus showed a greater proportion of older workers. Retail led with 31.8% of its workforce aged 50 or older, followed by food and beverage (30.6%) and construction (29.7%). Some companies drastically reduced youth hiring, such as Hite Jinro, which hired only one new employee under 29 in 2024 compared to 82 in 2023. Hyundai Motor also saw a 65.1% reduction in new hires under 30.

However, growth sectors like semiconductors bucked the trend. SK Hynix dramatically increased its youth hiring, with those under 30 accounting for 2,560 of its 3,201 new hires in 2024, a tenfold increase. Hanwha Aerospace and Samsung Biologics also significantly boosted their recruitment of young talent.