South Korea redirects $2.8bn to semiconductor training
South Korea will redirect 3.6 trillion won (US$2.8 billion/100.8 billion baht) from its budget for childhood education to higher and lifelong education, such as nurturing semiconductor talent, the government said on Thursday.
The revamped education plans were put forward “in consideration of the changing education environment”.
The extra budget will be used to strengthen research and training at universities, offer lifelong education and support universities outside of Seoul, the Education Ministry said, adding that nurturing future talent for the semiconductor industry is one of the main tasks of the reform.
South Korea has been rushing to step up efforts to nurture next-generation talent for the semiconductor industry after President Yoon Suk-yeol called for special measures to boost the industry last month.
The 3.6 trillion won that is to be redistributed for nurturing semiconductor experts is part of a 68.9 trillion won budget for early childhood, elementary and secondary education. Another 12.2 trillion won has been designated for higher and lifelong education in 2022.
“The level of investment for higher education is relatively low compared to the OECD average,” an official from the ministry said. “We should put much more resources into higher education to strengthen the nation’s competitiveness.”
The reallocated funds will also be used “to ease the limit on the university student quota for departments related to high-tech fields” in response to Yoon’s earlier remarks that the quota made it difficult for institutions to train a sufficient number of graduates in the semiconductor industry.
It also promised to support universities to nurture talents to meet the demand of industries and the community.
The ministry added that while the budget for local education has increased by almost four times over the past 20 years, the school-age population (6-17) has decreased by 34 per cent, resulting in an imbalance between the support for early childhood, elementary, secondary education and higher, lifelong education.
The Korea Federation of Teachers Association also issued a statement criticising the decision.
“To reallocate the subsidy without explanation on why the budget for education should decrease when the number of students goes down is to give up on the improvement of the early education environment,” the statement read.
“We cannot ensure the health and safety of children from infectious diseases, let alone provide them with individualised education targeted at each one’s need or guarantee a certain level of basic scholastic ability.”
The Korea Herald
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