Finance Minister
Yoon Jeung-hyun |
By Yoon Ja-young
Staff Reporter
The nation's top economic policymaker said Wednesday that the government will lower the entry barrier to high-value-added professions, such as lawyers and accountants, by overhauling the professional license system.
The move comes as part of efforts to develop the services industry, which has remained far behind compared to advanced countries, such as the United States and Japan.
``In the service industry, we will focus on creating high-value-added jobs for jobseekers with high levels of diplomas, as well as increasing overall employment in the industry,'' Strategy and Finance Minister Yoon Jeung-hyun said Wednesday.
He said the ministry would examine and improve the professional license system.
``Professional licenses in fields such as legal, accounting and consulting services are high value adding, and are essential for the development of the manufacturing industry as well,'' Yoon said.
He explained that the service sector's contribution, such as design or after-sales services, makes up 70 percent when manufacturing a car. He said the government would lower the entry barrier for such licenses, which means there will be more competition among professionals in the industry, and added that it will come up with measures to improve the professional license system soon.
The announcement grew out of a decision that the service industry should be developed for the economy to make a leap forward and to create jobs.
Other developed countries have seen their service industries grow and create more jobs. In the United States, for example, around 80 percent of the labor force works in the service sector, but they still see more room for growth there.
Korea, a manufacturing powerhouse, has been lagging behind due to a lack of competitiveness. The country has been seeing huge deficits in the service industry each year.
Yoon pointed out that the jobs in the service sector fall below the education level of jobseekers in the field. He said such imbalances, or lack of decent jobs, are causing problems in the services job market.
The Korea Development Institute (KDI) recently submitted a report to the ministry that includes recommendations that non-lawyers should be allowed to hold stakes in law firms. Currently, only lawyers, accountants and other professionals can run businesses in their professional fields.
The measure, however, is expected to meet fierce opposition from professionals who don't want to lose their monopoly.
The KDI is holding a public hearing with the government over the professional license system next week.
chizpizza@koreatimes.co.kr
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