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S Korea to focus on developing human resources

(Xinhua)

09:48, August 31, 2011

SEOUL, Aug. 30 (Xinhua) -- South Korea has decided to lay emphasis on human resources rather than material capital in making research and development investments, the government said Tuesday.

The Ministry of Education and Science Technology and the Ministry of Knowledge Economy announced joint measures to nurture the industrial work force and create 30,000 jobs.

Under the measures, they plan to increase the budget for developing human resources from the current 30 percent to 40 percent of resources and development investments. The government's budget for research and development stood at 13.7 trillion won (12.8 billion U.S. dollars) last year and is expected to be around 15 trillion won this year.

The government will also raise the number of professors involved in industry-university cooperation from 200 to 2,000 next year so schools can better reflect the demand required from companies.

Students with exceptional skills in high-tech fields will be allowed to continue related work during their mandatory military service period so they can grow into industrial talent and entrepreneurs.

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