The Korean Economic Forum
The Fourth Industrial Revolution and Job Crisis in the Korean Economy
Ho-Young Oh (Korea Research Institute for Vocational Education & Training)Year 2018Vol. 11No. 2
Abstract
This paper exhibits an empirical analysis on the job shock caused by thefourth industrial revolution in the Korean economy over the next decade andpresents policy responses in terms of human resources development andutilization. The result shows that about 52 percent of jobs currently in theKorean economy were at high risk of being replaced by computers during thefourth industrial revolution, especially among men workers, poorly educatedworkers, and the aged workers. This raises the need to adapt the existinghuman resources development strategies optimized for the future societyrepresented by the fourth industrial revolution, and specifically focused onenhancing the life-long learning opportunities for all the people includingcurrently employed or not. In addition, the traditional monorail career pathparadigm of “education-work-retirement” should be transformed into a newmultirail career path paradigm, in which people can have the opportunity toaccess to education & training regardless of age, working condition.}