Korean workers find Vietnam job market lucrative

Demand for talented workers is soaring, as an increasing number of companies from the RoK join other global firms relocating production and other business facilities in expectation of fruitful results flowing from the recently concluded Korea-Vietnam Free Trade Agreement (FTA).

The Korea Trade-Investment Promotion Agency (Kotra) sponsored the job fair Ho Chi Minh, in hopes of persuading more local job seekers to take advantage of the abounding number of job opportunities.

The agency invited some 46 Korean companies from differing industries ranging from software to traditional textile and electronics manufacturers.

“Nearly 950 local and Korean job seekers attended,” Kotra said adding the job fair involved one-on-one resume screening and job interviews.

“There are about 4,400 RoK companies operating here in Vietnam, and the number is expected to keep increasing, generating higher demand for Korean talent,” said Park Sang-hyup, chief of the Kotra Ho Chi Minh branch.

For Korean manufacturers of various sizes, Vietnam is a most attractive destination, as they can produce parts and materials or assemble them at a much lower cost, thanks to tariff reductions.

Korean conglomerates in business-to-consumer areas, like CJ Vietnam, Lotte Mart Vietnam and Lotte Cinema, took part in the job fair. The two conglomerates have recently taken aggressive steps to expand in the entire Southeast Asian region.

The number of RoK companies opening corporate branches and factories in Vietnam has also been steadily increasing over the past few years, and the country is now one of the top three hottest destinations for financial companies seeking overseas expansion.

The Industrial Bank of Korea, Shinhan Bank and Busan Bank also joined the fair in search of new bankers who can help with localization to get more Vietnamese to use their bank services.