Hyundai Motor will hire an additional 10,000 workers indirectly through its suppliers and their subcontractors in 2013. Hyundai recently held a two-day job fair in Seoul for its 430 smaller partner companies. Around 20,000 job-seekers were expected to visit the exhibition at COEX. The second annual event will be held in Gwangju and Daegu in the next few weeks.
Hyundai Motor vice chairman Kim Eok-jo told the Korea Herald, “We will inject more resources into job creation.”
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The automaker is also intensifying efforts to better support its suppliers, in line with the government’s shared-growth initiative. Hyundai said its 300 direct suppliers made up KRW233.7bn (US$210.21m) of its overall sales in 2012, a rise of 10.6% year on year. The average partnership period between Hyundai and a supplier was 27 years, compared with an average of 11.1 years across industries.
A company official said, “Hyundai’s strength is its prompt response to local demands. Unlike other carmakers that secure auto parts mostly from their home country, we make them in the market via our suppliers. They are also allowed to work together with other carmakers so that they can secure profits regardless of Hyundai’s car sales. Their enhanced competitiveness will strengthen our product quality in the long term.”
