Learning from the “Miracle of Han River”

Abstract

The overall competitiveness performance has four basic dimensions: Economic performance, government efficiency, business efficiency and Infrastructure. improving national competitiveness is like an investment, investing from the physical infrastructure to soft infrastructure. Korea’s transition from one of the poorest countries in the early 1960s to the world’s 11th -largest economy is unprecedented.

Government plays a dominant role in the Korean economic growth since 1960s, first step taken by the government was building infrastructure. Korean government has always been committed to investment in education, improve people’s education level to meet the new requirement of labor markets. Nowadays, the high development of Korea is becoming innovation hub in the creative economy. By launching “creative economy” initiative, “creative Korea” strategy is to mainstream the use of ICTs across the entire economy and in particular to increase ICT adoption within SMEs. In addition, an area that will increase in importance is the Internet of Things (IoT).  Korea is implementing Knowledge Sharing Program with worldwide partners and learning advanced experience. Sharing Korean experience and jointly developing sustainable growth.

However, solving the youth unemployment issue is priority to President Moon Jae-in, the unemployment rate of March triggered the alarm again, his administration planned to implement a series of promotion policies help youth out of catastrophe. Besides, developing a high-quality employment, training the workers to adjust the fourth technological revolution. knowledge sharing program with Hungary provides some suggestions from the Korean experiences. This proposal tries to find out how do Korea improve competitiveness since last century and some experiences of solving the unemployment.