The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Royal palaces in Seoul offer free access during Chuseok holiday

  • 3

    Travis King in US custody after expulsion by N. Korea: Washington officials

  • 5

    Koreans adapt to soaring food prices

  • 7

    American soldier who crossed into North Korea arrives back in the US, video appears to show

  • 9

    Blinken to release Chuseok message for S. Koreans for 3rd year

  • 11

    Over 2,200 aging applicants for reunions of separated families died this year: gov't data

  • 13

    1st gold in Hangzhou leaves N. Korean shooters in tears

  • 15

    Daejeon hosts 14th int'l play festival

  • 17

    China launches first cross-sea bullet train line near Taiwan Strait

  • 19

    Kim Woo-min snatches gold in freestyle swimming

  • 2

    INTERVIEWRisk-averse culture is forcing daring creators to flee showbiz

  • 4

    Korean Baek In-chul wins stunning swimming gold

  • 6

    Education ministry prohibits parents from recording classes

  • 8

    Drug offenders using dark web increasing rapidly: report

  • 10

    BOK likely to stand pat again next month on Fed's rate freeze, slowdown

  • 12

    N. Korea stipulates nuclear force-building policy in constitution

  • 14

    BTS' Jungkook to drop 2nd solo single

  • 16

    Korea claims third consecutive gold in men's team sabre fencing

  • 18

    S. Korea elected as IAEA board member for 2023-25

  • 20

    Sidelined LOL star Faker Lee Sang-hyeok proud of his teammates for beating China in semis

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
Sat, September 30, 2023 | 08:15
Editorial
Falling Competitiveness
Posted : 2008-05-16 19:19
Updated : 2008-05-16 19:19
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
Quality Education Pivotal to Boosting Growth Potential

South Korea's global competitiveness ranking fell two notches to 31st among 55 countries in 2007, according to the IMD World Competitiveness Year Book 2008. The setback was attributed to inefficiency in the government sector and low quality education. The sliding ranking shows that the government has only been talking; doing little to sharpen the country's competitive edge.

What's more discouraging is that South Korea was listed at the bottom among 13 countries in the Asia-Pacific region. The country was behind Malaysia, Thailand and India, which ranked 19th, 27th and 29th, respectively. The United States remained in the top place, followed by Singapore and Hong Kong. Australia was listed 7th, Taiwan 13th, China 17th and Japan 22nd.

Regrettably, the list, released by the International Institute for Management Development (IMD) based in Lausanne, Switzerland, cast a dark cloud over the prospects for South Korea joining the ranks of advanced countries. Pessimists warn that the nation might have to continue to remain in the group of industrializing economies as long as it does not take comprehensive measures to improve its national competitiveness.

South Korea took 37th place in the ranking of government efficiency, down six notches from 31st in 2006. The IMD report attributed the slide to bureaucratic hurdles on business activities and technology developments. In short, the country is not considered a good place for business and investment because of complex government regulations.

Government officials should humbly listen to the IMD's advice that South Korea step up efforts on deregulation, tax cuts and better labor relations to bolster corporate activity. President Lee Myung-bak has committed to pushing for regulatory reform and providing tax incentives in order to create a more business-friendly environment. Thus, we hope that his administration will do its utmost to enhance the nation's global competitiveness.

Also, the country ought to provide better education to cultivate a pool of creative and competent human resources necessary for businesses, research centers and other institutions. The report put South Korea fourth in the college completion rate. But its ranking in the overall competitiveness of the education sector dropped to 35th from the previous year's 29th.

Korea took 53rd place in the extent to which university education meets social and economic needs. This means that the nation's higher educational institutions have failed to provide the quality education required for society and the business community. The future of South Korea, the world's 13th-largest economy, will no doubt depend on education.

What's encouraging is that the country's scientific competitiveness ranking climbed two notches to fifth place, helped by consistent investment in research and development (R&D) on the national level. The nation should go all-out to prop up its competitiveness by lifting regulations, promoting entrepreneurship, attracting more foreign investment and providing better education.
 
miguel
wooribank
LG
Top 10 Stories
1Guide to Chuseok celebrations across Korea Guide to Chuseok celebrations across Korea
2Chuseok exodus begins ahead of extended 6-day holiday Chuseok exodus begins ahead of extended 6-day holiday
3Korea sees record-low births in July Korea sees record-low births in July
4Hyundai E&C to build upmarket apartment complex in Seoul's Gwanak District Hyundai E&C to build upmarket apartment complex in Seoul's Gwanak District
5Political battle intensifies after court rejects Lee's arrest warrant Political battle intensifies after court rejects Lee's arrest warrant
6Korea on track to prove esports prowess at Asian Games Korea on track to prove esports prowess at Asian Games
7Lotte focuses on health care, mobility to spur growth Lotte focuses on health care, mobility to spur growth
8DMZ Open Int'l Music Festival to be held in Goyang in November DMZ Open Int'l Music Festival to be held in Goyang in November
9Two Koreas trade barbs over nuclear war Two Koreas trade barbs over nuclear war
10[INTERVIEW] Risk-averse culture is forcing daring creators to flee showbiz INTERVIEWRisk-averse culture is forcing daring creators to flee showbiz
Top 5 Entertainment News
1Trailblazing nonagenarian artist honored for redefining Korean fiber art Trailblazing nonagenarian artist honored for redefining Korean fiber art
2[INTERVIEW] With '30 Days,' Kang Ha-neul finds new level of comfort in acting INTERVIEWWith '30 Days,' Kang Ha-neul finds new level of comfort in acting
3Rwandan artists bring diversity to Seoul's art scene Rwandan artists bring diversity to Seoul's art scene
4[INTERVIEW] ONEUS returns as 'mermaid prince' INTERVIEWONEUS returns as 'mermaid prince'
5Kep1er unveils 'Magic Hour' with fresh perspective on love Kep1er unveils 'Magic Hour' with fresh perspective on love
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group