Training 750,000 Workers in 20 Industries with New Technologies Over 5 Years... "Budget Reflected Next Year"

On the 30th, Deputy Prime Minister Hong Nam-ki and related ministers hold 'New Technology Workforce Development Forum'
Specific project details to be disclosed in late August 2022 budget announcement

Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki presides over the 'Focused Discussion Meeting of Ministers on Human Resource Development' held at the Korea Institute of Finance in Jongno-gu, Seoul, on the afternoon of the 30th, delivering opening remarks. (Photo by Ministry of Economy and Finance)

[Sejong=Asia Economy Reporter Moon Chaeseok] The government has decided to nurture 750,000 workers in 20 new technology fields over the next five years and will begin financial support starting with next year's budget proposal.

On the afternoon of the 30th, the government announced this at the Korea Financial Training Institute in Jongno-gu, Seoul during the 'New Technology Workforce Development Ministers' Intensive Discussion Meeting.' The discussion was attended by Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, Yoo Eun-hye, Deputy Prime Minister and Minister of Education, and Ahn Il-hwan, Senior Secretary for Economic Affairs at the Blue House.

The ministers stated that approximately 750,000 workers will be needed in 20 new technology industries over the next five years. About 500,000 can be trained through current vocational training and university education. They plan to add 250,000 more to this 500,000 to meet industry demand.

After selecting this as a collaborative budget task among the ministries responsible for workforce development, they plan to systematically support it starting from next year's budget. They also intend to reflect the purpose of this discussion in the 2021-26 medium-term fiscal plan.

They will continue discussions on measures such as 'data infrastructure' and 'establishing inter-ministerial collaboration systems.' Through this, they plan to continuously monitor the supply and demand status of new technology workers and promote customized workforce development.

The government plans to disclose specific workforce development budget project details when announcing next year's budget proposal in late next month.