South Korean Education Industry Analysis

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(iv) Growth of industry
Growth of industry means sector of an economy that is developing particular rapidly. Growth of industry will bring profits to the country (business dictionary, 2017).
South Korean economic development South Korea has rapid and sustained economic growth. Since the 1960s when South Korea’s gross domestic product (GDP) per capita was comparable to levels in the poorer countries of Africa (in 1960 it was US$1 110 compared to US$430 for Africa) (Suh & Chen 2007: 5). After 45 years, South Korea’s GDP per capita had increased more than twelve-fold to more than US$13 000 in 2005 since government run industrialization started in the early 1960s. Furthermore, its GDP per capita increased from US$67 in 1953 to US$20 050 in 2007
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Since the 1960s, the government has been generally successful in expanding the education system based on the industrial needs for human resources. As a consequence, the education system has developed in tandem with the several stages of economic development. According to the nation’s economic development, the motivation of the government’s educational plan has moved from primary to secondary education and finally to the tertiary level. The rapid growth of education in terms of quantity. Lesser extent quality is the most relevant feature of South Korean educational development during the country’s industrialization. Since South Korea launched an economic development programmed early in the 1960s, industrialization and urbanization have continued to speed up. In the meantime, South Korea’s strong family structure and high respect for education have been the driving force behind the country’s economic development with little natural resources available. Education has played a major role in placing the foundation upon which democratic principles and institutions are based. It has changed political behavior patterns, promoted political knowledge, and shaped political attitudes and values. At the same time, education has imbued the people with commitment to modernization and citizenship. As a result, increased educational opportunities have made upward social mobility possible and the middle class…show more content…
On the industrial side, rapid industrialization affected skill formation in workplaces while industrial deepening in a short time required substantial efforts to upgrade workforce skills and knowledge in particular. The education and training system need to change and meet the new requirements of the industry on the supply side. Hence, South Korea’s education and training system responded to the growth of the South Korean economy through rapid expansion of student enrolment capacity, which caused the imbalance between quantitative expansion and qualitative improvement of education and the skill mismatch between public training and industrial needs (South Korean economic
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