Brain drain hits relocating public firms

Facing their imminent relocation to provincial cities, public corporations and institutions in Seoul and its surrounding areas are agonizing over the outflow of professionals, especially young employees who are reluctant to leave the metropolitan region. The personnel crisis is yet more serious for energy-related organizations, which are heavily reliant on experts and their specialized knowledge.

Several key state-run corporations are slated to move their headquarters next year, complying with the government’s long-term plan to achieve decentralization and balanced regional growth. Korea Electric Power Corp. will move from its current Samsung-dong office to Naju, South Jeolla Province. The Korea National Oil Corporation, Korea Gas Corporation and Korea Hydro & Nuclear Power Corporation will settle in Ulsan, Daegu and Gyeongju, respectively. A total of 148 public organizations are to be moved out of Seoul and its vicinities.

For full article, see Korea Herald.

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