ID :
204323
Tue, 08/30/2011 - 08:48
Auther :
Shortlink :
https://oananews.org//node/204323
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Gov't to focus on human capital investment for job creation
SEOUL, Aug. 30 (Yonhap) -- The government said Tuesday that it will focus on human capital investments to help create more than 30,000 new jobs related to research and development (R&D) activity in 2011.
The joint plan drawn up by the knowledge economy and education ministries aims to increase the proportion of the country's investment supporting engineers and scientists from 29.7 percent of all R&D spending in 2010 to 40.3 percent next year.
"The move is needed to build up skill levels and better manage workers who can contribute to improving the country's industrial competitiveness, which is vital for sustainable economic growth," the Ministry of Knowledge Economy said.
As of 2007, members of the Organization for Economic Cooperation and Development allocated 48 percent of their R&D to human capital, including wages and research funding, which far exceeds the total for South Korea, it said.
In the past, Seoul concentrated on so-called physical capital investments that caused more to go into the buying of equipment and building new facilities.
Under the new plan, the government will assist more than 21,350 companies, 4,150 laboratories, 1,500 universities and 1,790 R&D centers so they can create 30,180 positions next year.
It will also offer honorary fellowships to 10 top-notch engineers so they can receive 100 million won (US$93,350) in prize money, while getting retired CEOs and managers to find work at universities so they can train young people to become promising engineers.
Other areas where the state will help create jobs for young people are in the software sector, which South Korea is trying to build up.
The ministry in charge of the country's industrial policies said that providing good jobs can help lower the unemployment rate of young people under 29, which reached 8 percent last year, and get more high school students to become science, engineering and technical majors in university.
Such developments could help ensure that Asia's fourth-largest economy remains competitive in cutting edge fields down the line and allow it to maintain growth, the ministry said.
The joint plan drawn up by the knowledge economy and education ministries aims to increase the proportion of the country's investment supporting engineers and scientists from 29.7 percent of all R&D spending in 2010 to 40.3 percent next year.
"The move is needed to build up skill levels and better manage workers who can contribute to improving the country's industrial competitiveness, which is vital for sustainable economic growth," the Ministry of Knowledge Economy said.
As of 2007, members of the Organization for Economic Cooperation and Development allocated 48 percent of their R&D to human capital, including wages and research funding, which far exceeds the total for South Korea, it said.
In the past, Seoul concentrated on so-called physical capital investments that caused more to go into the buying of equipment and building new facilities.
Under the new plan, the government will assist more than 21,350 companies, 4,150 laboratories, 1,500 universities and 1,790 R&D centers so they can create 30,180 positions next year.
It will also offer honorary fellowships to 10 top-notch engineers so they can receive 100 million won (US$93,350) in prize money, while getting retired CEOs and managers to find work at universities so they can train young people to become promising engineers.
Other areas where the state will help create jobs for young people are in the software sector, which South Korea is trying to build up.
The ministry in charge of the country's industrial policies said that providing good jobs can help lower the unemployment rate of young people under 29, which reached 8 percent last year, and get more high school students to become science, engineering and technical majors in university.
Such developments could help ensure that Asia's fourth-largest economy remains competitive in cutting edge fields down the line and allow it to maintain growth, the ministry said.
