Despite the ongoing global recession, the two car makers have done relatively well in the first half by posting a 7-percent growth in global sales figures, which led to a spillover effect on their suppliers.
According to some industry analysts, the new employee number of more than 8,000 is equivalent to an investment of 1.2 trillion won, given the employment inducement coefficient (the number of jobs created for every 1 billion won) for the auto parts industry is 6.9.
A Hyundai Motor official said, "At this rate, the total number of new jobs created by our first-tier suppliers would be much more than 10,000. Including more than 5,000 secondary and tertiary suppliers, that number would be much higher."
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