The arrest of Landing International Development’s chairman in Cambodia for alleged financial corruption has dealt a blow to the local job market. Landing developed Shinhwa World, and many local college students had pinned their hopes on job promises there. Mike Balfour reports.

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Arrest of Landing chairman hurts local job market

The arrest of the chairman of the Landing International Development, Yang Zhihui, is damaging the already depressed local job market.

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Business activities suspended after arrest

After the chair was arrested, all business activities including employment and investment planning have been suspended.

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Promised employment opportunities delayed

Landing promised employment to participants of its job training programs which are jointly operated with local colleges.

Such employment has been indefinitely delayed.

Phone Recording
Local university representative
Our students completed the on-the-job training and were promised employment in early October. Right before the job interviews, the chair was arrested. Everything is suspended.
[전화녹취 00대학 관계자 ]
"현장 실습까지 다 이수해서 저희들이 그 때 10월 초에 다 입사하기로 하고 면접보기로 했는데 그 대 양 회장 사건이 터져버린 거죠."

The problem is not limited to one college.

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Job training programs involve students from 5 local schools

Five local schools including Jeju National University, Jeju International University, Jeju Tourism College, Cheju Halla University, and the Jeju campus of Korea Polytechnic partnered the Landing International Development job training programs.

CG-IN
More than 600 students joined the one and a half year programs and 305 have successfully finished their courses.

Among the program graduates, 83 have been hired and another 160, including 66 students who will graduate from their colleges next year, were promised employment by Landing.
CG-OUT

However, all employment and investment plans are clouded with uncertainty.

Phone Recording
Provincial government representative
We contacted the Landing HR manager, but we didn't get a firm answer about employment. We're pretty sure that mass employment is off the table because the developer can’t afford to proceed with big projects that involve hundreds of new jobs.
[전화 녹취 제주특별자치도 관계자]
"인사 담당자와 접촉해봐도 회사 사정이 그러니가 된다 안된다 이야기를 못하고 확실한 것은 대규모 취업자리는 없을 것이고 한번에 몇 백명이 들어가는 것은 새로운 사업이 추진되기 까지는 어렵죠. "

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Landing had planned to hire 5,000 workers

The Jeju Shinhwa World run by Landing had planned to newly hire 5,000 workers including 4,000 locals.

However, things have suddenly changed by the arrest of the chairman.

Landing’s future is uncertain..

[Reporter] Mike Balfour
[Camera] Ko Moon-su

Young hopefuls whose employment had once been guaranteed by the company are disappointed and the already depressed local job market has taken a significant blow.

Mike Balfour, KCTV