An Inquiry into the Skills Attainment Policy for the Knowledge-Based Economy in Korea

The Korean economy has steadily achieved high growth for the past 30 years. Recently however, the growth rate of the manufacturing sector is declining and international competitiveness is seriously waning. This means that the growth potential of existing production systems in Korea is withering. The Korean production system is characterized by 'subordinate Fordism' combined with 'high productivity/low wage/mass production/mass exportation'. Korean production systems began to decline in competitiveness in the early 1990s. One of the fundamental reasons might be the fact that the Korean system failed to accommodate new environments that were characterized by changes and competition. To regain its competitive edge in the world market and to sustain high growth, the Korean economy should embrace the knowledge-based economy in lieu of the Fordist mass production system. For the purpose of the building an alternative development model of Korean economy, it is very important to establish a mechanism for new skills attainment