In a press release, Ministry of Science and ICT of South Korea announced the conduction of its ‘Innovative Growing Youth Talent’ program which aims to train and develop skills in the youngsters across the country, in order to enable them to meet the needs of the “Fourth Industrial Revolution.” Through this program, one of the field that South Korea wishes to promote in preparing its youth for the future is blockchain. The press release came on the 9th of August.
Fields which will be particularly focused on in the program include: Artificial Intelligence (AI), Blockchain, Big Data, Cloud Computing, Virtual and Augmented Reality (VR and AR), Smart factory, Autonomous vehicles, and drones.
For some time now, South Korea has been facing issues with employment where young people either have not been able to find jobs or have been employed in fields for which they are not skilled for. The ‘Innovative Youth Talent’ program has been initiated to cater this issue; it will be “targeting young job seekers to eliminate jobs mismatches…” This, it wishes to accomplish by not only training the young individuals, but also by providing them with job opportunities. The statement included:
In order to improve the existing education system which is composed only of educational institutions and to add cooperating companies so as to be advantageous for job-related cooperation, demand companies that are responsible for the employment of education graduates participated from the beginning of the project.
Meanwhile Young-Kyung Won, a software policy officer at the Ministry of Commerce, Industry and Energy, said: “Although the youth unemployment issue is emerging as a social problem, the problem of job mismatch is serious.”
The program offers 40 training courses which will cover the above mentioned fields. Out of these 40, 10 are dedicated towards software and hardware. The training will last for 6 months starting from as soon as September 2018, and ending in February, 2019. The target number of students for the program is set to be 1200. These students will be recruited throughout the month of August through a “self-selection criteria for each educational institution.”
The educational institutes to run the courses are corporations, professional educational institutions, universities and other related institutions. A proportion of the courses will be run by local education offices; this is to reduce the concentration in the metropolitan areas, and to locate local talents as well as to expand employment opportunities for local youth.
The program has also put together, a consortium of corporations, universities, trade associations, industry/academic related organizations, which will be dealing with improving the employment issue of the country. Organizations in the consortium include SAP, Unity Technologies, PWC, Oracle, Hancom MDS, KBS, Seoul National University Hospital and Saltlux.
Attempts of South Korea in embracing the blockchain technology have been seen before too. Earlier this summer, South Korean universities also signed a partnership agreement with an American technology company Ripple to avail assistance in learning blockchain.