Market conditions across Korea improved in 2010 as new headcount budgets were released across most sectors. This resulted in increased hiring activity for many companies. Confidence remained relatively low, however, which limited hiring throughout the latter half of the year.
Although the job market improved as the year progressed, professionals were generally hesitant to move roles at the beginning of the year unless the position on offer represented a significantly better opportunity. However, there was a noticeable change in attitude later in the year with more professionals open to a move. We also witnessed an increase in Korean nationals considering a move back to the country following job placements abroad. Candidates who secured new employment often received salary increases of between 10-30%, as many remuneration packages had been frozen during the global financial crisis. Additional salary increases are anticipated as we move into 2011.