Figure represents an 8% jump
Average annual salaries for entry-level positions at South Korea's largest companies are estimated at around 30 million won (US$32,700) next year, a survey showed. According to the survey jointly conducted by the Korean Chamber of Commerce and Industry and the firm JOBKOREA, average annual salaries will amount to 29.8 million won in 2007, up 6.0 percent from this year. The companies surveyed represent South Korea's largest 500 firms in terms of sales revenues; 413 of these responded to the survey. Hyundai Motor Corp., the nation's largest automaker, ranked first for starting salaries, with an annual average pay package estimated at 38.5 million won. Woori Bank came in second at 38.0 million won, followed by Daewoo Securities, Samsung Engineering Co., Hyundai Autonet, and LGPhilips LCD, respectively. The 12 public firms among those surveyed, representing the firms most desirable to job seekers - will pay an estimated 31.4 million won annually on average to entry-level employees next year.By industry, financial companies were among the firms with the most well-paying jobs for new employees, with average annual salaries amounting to 34.9 million won. Shipyards and heavy manufacturing firms followed the financial industry, with average annual pay for entering employees around 34.8 million won, the survey showed. Distribution, trading, and textile companies pay comparably smaller salaries to their workers. In a separate survey conducted by the Financial Skills Network Center in Seoul, more than half of workers at financial firms will receive more than 50 million won in pay next year. One out of four whole employees in the sector will be paid more than 75 million won, the survey showed. Please direct questions or comments to [englishhani@hani.co.kr]
