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South Korea launches inaugural Innovative Growth Youth Talent Concentration Training Program

South Korea launches inaugural Innovative Growth Youth Talent Concentration Training Program

South
Korea’s Ministry of Science and ICT and the Institute for Information and
Communications Technology Promotion will hold the inaugural “Innovative Growth
Youth Talent Concentration Training (IGYTCT) Program” from 11 June to 10 July 2018. 

The program aims to both address rising youth unemployment in South
Korea by eliminating job mismatches via project-oriented software education for
graduates and job-seekers, and nurture ICT talent in critical technologies of
the 4th Industrial Revolution.

According
to a press release by the Ministry of Science and ICT, the IGYTCT Program is
budgeted at 240 billion won for 2018.

The launch of the program was also
preceded by extensive consultation with relevant stakeholders — a demand survey
was conducted among  80 small-medium
enterprises (SMEs) and 25 private educational institutions, and a poll was also
held among 383 graduates and graduating university students. 

The contents of
the IGYTCT Program are designed to reflect the feedback gathered from all
consultative processes. Eschewing
conventional classroom techniques for a project-oriented learning approach that
blends professional mentorship with practical application, the IGYTCT Program
consists of an intensive training regime of 1000 learning hours over 6 months. 

According to the Ministry of Science and ICT, more than 50% of the program will
consist of project training by industry experts.

As
part of the South Korean government’s efforts to nurture talent in critical
technologies for the 4th Industrial Revolution, the IGYTCT Program will focus
on the following 8 key aspects: artificial intelligence (AI),
blockchain/fintech, Big Data, augmented and virtual reality, smart factory,
autonomous transportation and drone technology. 

By designating these 8 aspects
as core Industry 4.0 technologies and devoting public resources
to nurturing human resources, it is hoped that the IGYTCT Program will help
address South Korea’s South Korea’s potential shortage of skilled personnel in
these fields.

In
addition, the IGYTCT Program also serves as a platform for skills upgrading or
retraining. Despite a shortage of manpower in many industries, a significant
degree of skills mismatch in South Korea has resulted in high structural
unemployment even among the country’s many university graduates.

South
Korea has long grappled with the issue of rising youth unemployment. Since 2005,
the employment rate of persons aged between 15 to 29 in the country have been
decreasing and “remain(ed) at dismally low levels”.
 In August 2012, youth
employment stood at 7.8%; between July to September 2017, this figure had risen
to a staggering 10.2% despite the Moon administration’s efforts in job sector
recovery. This trend comes in light of steadily rising college admission rates
in South Korea, and critics have pinpointed the severe inflexibility of the
country’s labor regime as the root cause of persistently high youth
unemployment.

The
IGYTCT Program will be overseen by a consortium of domestic and foreign
educational institutions and research institutes as well as large and small enterprises. As an industrial-academic partnership, the convergence of industry expertise
and pedagogical innovation is expected to boost employment and enhance
curriculum development. 

To further ensure successful promotion of the program,
the Ministry of Science and ICT has also established a cooperative ecosystem
between 9 government ministries and agencies, including the Korea Agency for
Infrastructure Technology Advancement (KAIA) and Creative Economy Innovation
Center (CCEI).

The selection process for IGYTCT Program
trainees is expected to conclude by the end of August 2018, and training will
officially commence from early September onwards. The Ministry of Science and
ICT expects a total of 1200 trainees to graduate from the program and enter the
workforce by February next year, and has announced that it will invest a total
of 108 billion won over the next four years, with a target of training 5400
talents across all 8 core aspects.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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