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The necessity of a paradigm shift in Korean welfare policy and tasks to be pursued

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Frame of Image tute “If ‘welfare through work’ is to become a reality, Korea should dispense with the old method of haphazardly importing welfare programs based on one-to-one comparisons with developed countries and instead redefine the overarching goal of the welfare system by establishing a universal structure that supports employment and mobility and aligns various welfare programs as components of that system.”
In the early 1990s, the influx of low-skilled labor from Eastern Europe, China, and India brought about a shift in the global labor market. The result was a phenomenon known as “the great doubling.” The labor force in the global market increased from around 1.46 billion to 2.93 billion, while the capital equipment ratio (the amount of capital used per laborer) is estimated to have plummeted to about 61% (Freeman, 2008). Even more important is the fact that such changes were not a one-time shock but are, rather, an ongoing process. As developing countries improve the education levels of their populations and make significant investments in capital, it becomes more difficult for developed countries to maintain a technological advantage. Consequently, any country that does not invest in capital and technology to increase the level of production and that does not empower its workers to adapt to the constantly changing conditions of the global economy will find that both its individual workers and its economy as a whole are in danger of being left behind.
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Title The necessity of a paradigm shift in Korean welfare policy and tasks to be pursued
Similar Titles
Material Type Reports
Author(English)

Yun,. Heesuk

Publisher

Sejong:Korea Development Institute

Date 2014-03
Series Title; No KDI Focus / no. 27
Pages 12
Subject Country South Korea(Asia and Pacific)
Language Korean
File Type Documents
Original Format pdf
Subject Social Development < Social Welfare
Holding Korea Development Institute