We argue that South Korean families with children are today overinvesting in the level of education due to their high levels of expenditures on private after-school tutoring programs. This situation has evolved due to a combination of factors: a changing labor market, increasing housing and debt...

The importance of skills development for national economic growth has been increasingly emphasized. Skills development system and strategy are critical in enhancing individual worker's productivity, national competitiveness and consequently people's economic wellbeing. Vocational education and...

The series Investing in Youth builds on the expertise of the OECD on youth employment, social support and skills. It covers both OECD countries and key emerging economies. The report on Korea presents new results from a comprehensive analysis of the situation of young people in Korea, exploiting...

We estimate changes in the productivity of schooling for six East Asian countries. Our productivity measure is based on changes in the relative price of schooling. A rising price of schooling relative to other labor-intensive service sectors should indicate declining relative schooling...

On the basis of firm-level case studies, this paper examines the actual performance of university education and in-firm training for engineers in large Korean manufacturing firms. University education fails to meet the actual demands for skills at the firm level, while in-firm training fails to...