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This report assesses whether training workers in small and medium-sized enterprises (SMEs) in Korea is adequate, relevant, and aligned to skills needs.
This report assesses whether training workers in small and medium-sized enterprises (SMEs) in Korea is adequate, relevant, and aligned to skills needs. It analyses policy options to expand access to training for SMEs, remove the barriers to training participation/provision, and ensure that training provided by SMEs supports their growth and encourages innovation, particularly in the context of the 4th industrial revolution. Based on this analysis, this report provides actionable policy recommendations as well as good practice examples from OECD countries.
In recent years Korea has stepped up efforts to reduce inequalities in recognition that a fairer economic model is also the most sustainable one. In order to support this new policy direction, the OECD has carried out novel analysis of inclusive growth building on its Framework for Policy Action, developed by the OECD to improve the prospects of the groups left behind.
A well-coordinated adult learning system is essential to support the achievement of Korea’s long-term goals. The transformational effects of demographic change, digitalisation, globalisation, and most recently COVID-19 on life at work and outside of it amplify the importance of getting adults’ skills right.
Sound health management and supportive policies helped Korea emerge swiftly from the pandemic. The recovery is set to continue as pandemic-era restrictions on contact-intensive services are shelved, despite the Russia-Ukraine war raising inflation and highlighting the need to increase supply chain resilience.
Economic activity has contracted less in Korea than in other OECD countries, thanks to the prompt and effective reaction of the authorities to contain the spread of the COVID-19 virus and to the wide-ranging government support to households and businesses. Nevertheless, the pandemic generates strong headwinds.
The COVID-19 crisis has reiterated the importance of adult learning and career guidance services as many adults have lost their jobs and now require upskilling and reskilling opportunities in order to keep pace with the rapidly evolving world of work.
Workers’ skills are an essential asset for firms to recover from the COVID-19 shock and succeed in the twin digital and green transitions. Small and Medium-sized Enterprises (SMEs) face special barriers to investing in human capital because of their size and more limited access to information and capital markets. This report identifies policies that are successful in promoting SMEs’ investment in the skills of employees, managers or entrepreneurs.
Over the past few years, the global economy has suffered profound shocks that have had a marked impact on small and medium-sized enterprises (SMEs) and entrepreneurs. While government support protected SMEs from the economic impact of the COVID-19 pandemic, new threats have emerged.