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Work from home COVID-19 companies South Korea 2020, by industry

According to a survey conducted among South Korean companies in 2020, approximately 73.3 percent of companies in the finance and insurance industry supported working from home in reaction to the outbreak of the coronavirus (COVID-19) in South Korea. According to the source, the share of companies allowing working from home was high in the industries in which remote work was possible, such as finance and insurance, telecommunications, petrochemicals, and electrical and electronics. Over 60 percent of large companies in South Korea implemented or were planning to support working from home to prevent the spread of COVID-19.

 Change spurred by the pandemic

Survey results showed that Korean employees were calling for more flexibility in their working conditions for at least a few years. The unprecedented circumstances brought about by COVID-19 have forced the hand of companies into allowing remote work to protect both their employees and their business. Company dinners, widely considered an integral yet stress-inducing facet of company life in South Korea, were largely reduced as part of various policy changes enacted by companies during the pandemic.

 Economic hardships 

Gig workers have been hit hard by the economic fallout of the COVID-19 pandemic, with many having lost their jobs, and in turn their primary source of income. Even employees that were able to keep their job have resorted to other means to make up for their decreased income. With the global economy dipping downwards, the role of governments and policy makers will be more important than ever.

Share of companies supporting work from home due to COVID-19 in South Korea as of February 2020, by industry

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Sources

Release date

February 2020

Region

South Korea

Survey time period

February 2020

Number of respondents

1,089 companies

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Statistics on "Employees in South Korea"

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