[Photo by Lee Seung-hwan]
South Korea should prepare for the era of the fourth industrial revolution with new knowledge and skills to overcome challenges such as potential job losses driven by the fast advancement in technology, according to a report by Maeil Broadcasting Network, a general cable television network operated by Maeil Business Newspaper.
According to the report, titled Upskilling Korea presented by MBN on Thursday, the fourth industrial revolution can be defined by three key waves - the emergence of hyper-intelligence, hyper connectivity society, and hyper industry - which can lead to job losses in various sectors.
The report noted the collapse of the hand-driven manufacturing industry, crisis hitting factory workers due to mechanization as well as white-collar workers due to high-performing computers and digitalization, and job losses in general in the emerging fourth industrial revolution era. All sectors, regardless of industry, will be directly hit by changes led by technological advancement in the new era, according to the report. Jobs in the professional sector, in particular, will be more vulnerable to the changes, it warned.
To combat the challenges, the Upskilling Korea report proposed creating a fund to retrain employees, boosting talent in data mining, networking, and algorithm sectors, establishing crowd startup platform, creating big data market, and removing regulations on healthcare, on-offline linked projects, and finance.
MBN presented the Upskilling Korea report at an event at Lotte Hotel, central Seoul, on Thursday, to celebrate its 23rd founding anniversary. The report was prepared jointly with Korea Employment Information Service over a period of six months.
By Park Yong-beom and Lee Eun-joo
[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]