Leading companies in South Korea have fewer employees in their 20s than those aged 50 or older on their payrolls, industry data showed Tuesday, partly reflecting reduced hiring of young workers amid an economic slowdown.
According to the data from corporate tracker Leaders Index, the share of 20-something employees at 124 top companies in terms of sales was recorded at 19.8 percent as of the end of 2024, down 1.2 percentage points from a year earlier.
In contrast, the proportion of workers aged 50 or older reached 20.1 percent, up 0.6 percentage point from the previous year.
It marked the first time since 2015, when Leaders Index started compiling related data, that workers in their 20s have been outnumbered by those aged 50 and above. The ratio of workers aged below 30 years also reached under 20 percent for the first time.
Such a discrepancy was particularly notable in the battery sector. During the past three years, the share of workers in their 20s fell by 9.7 percentage points, while the proportion of 50 and above rose by 1.2 percentage points.
The information technology and electronics sector also saw a similar demographic shift, with the ratio of 20-something workers declining by 5.4 percentage points.
"Due to sluggish economic conditions, many industries have reduced new hiring, while older employees are delaying retirement," an official at Leaders Index said. (Yonhap)
