Customized HR Solution for Each Company, K-HR Management, Gains Strong Attention

In December 1997, South Korea had to accept a bailout from the International Monetary Fund (IMF). During this period, successful companies and banks went bankrupt, and those that survived focused on improving management efficiency. Park Jae-hyun, who was a consultant at the global HR consulting firm Towers Watson at the time, noticed that it was difficult to directly apply practices considered global best practices to Korean companies. The HR practices of Korean companies, ranging from recruitment to performance evaluation and compensation, differed from those of global companies, making it challenging to mechanically apply global HR techniques.

 

To effectively deliver global innovative HR practices to Korean companies, Park founded Human Consulting Group (HCG) in 2001. Although the company started with just three people, it grew to about 20 employees the following year, and by 2003, it had become the leading company in the HR market in Korea. This rapid growth was evidence of the strong demand for more efficient HR operations, including talent recruitment and placement, performance evaluation, and compensation......(omitted hereafter)