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Korea lacks most of the natural resources required for industrial development but it became one of the Asian Tiger economies and a manufacturing giant within a few decades. The "developmental state" in Korea strategically utilized the comparative advantage of the country in terms of human resources to promote labor-intensive, mass manufacturing industries for export-oriented economic development.
Today Korea is one of the largest producers of ships, automobiles, semiconductors, cell phones, etc. The country achieved this "Miracle on the Han River" due to its hard working and educated work force. Universal access to education has been a major achievement in Korea and it has one of the highest literacy levels in the world.
The craze for higher education has been driving Korean students to seek admissions in the universities across the world. Korean students comprise the third largest group of overseas students in the United States after Chinese and Indian students. Also Korean professors and faculty members can be found in most of the top universities in the world.
However this education fever has also led to serious problems in Korean society. The race to gain admission to elite universities in Korea has induced cut-throat competition among the students and sometimes driven them to commit suicide. But even after having gone through such a gruelling process most university graduates are finding it difficult to get decent jobs in Korea.
Years of hard labor and perseverance are useless if one cannot get a desirable job. In a conservative society such as Korea jobless people lack social prestige and respect. A large number of jobless young graduates have started avoiding social life and live alone. Many young people in Korea do not want to marry and have children. Often labelled as "losers," these young people are becoming hopeless.
While the liberalization and globalization of the economy has immensely benefited the big businesses or chaebol groups in Korea, the common people have been experiencing increasing socio-economic problems. Most university graduates also lack the skills required for jobs in this era of economic globalization.
Korea has been heavily dependent on the overseas market and export industries. With the rise of several manufacturing hubs in Asia and other parts of the world, the competitive edge of the Korean companies has been declining. In recent years there has been a fall in exports and a rise in the trade deficit.
To generate employment opportunities the focus should be on promoting the service sector and providing skill development for students. Vocational and polytechnic education has more potential to create job opportunities than the university education. Professions in tourism, health and entertainment have bright prospects in Korea.
Similarly, with expertise in reverse engineering, Korea's youth can also recycle electronic waste and produce cheaper products for developing countries. The school curriculum should educate students about the importance of skill development. Instead of spending millions of won on private education or ''hagwon'' and spending sleepless nights before college entrance examinations, parents should encourage their children to develop skills without worrying about the social status attached to jobs.
Korea has already started university-industry connections to promote innovation and the building of a creative economy. In the same way Korea can also start high school-industry links to train students and produce human resources required for specialized jobs. Presently, Korea has to depend on immigrant labor for jobs in several sectors which could be done by young Koreans if they are given proper training.
The craze for education in Korea is inspiring but it is also a requirement students get special training which could help them get jobs in the globalized market economy.
The author is a Ph.D candidate at the School of International Studies, Jawaharlal Nehru University in New Delhi, India. His e-mail address is rkdhawan13@hotmail.com.
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