Policy context for employment and skills in Korea

This chapter provides an overview of Korea’s employment and skills system and outlines the economic environment in which they have developed in the period following the Asian Financial Crisis of the late-1990s. The impact of the Asian Financial Crisis was an important factor in the economic and labour market policy framework that subsequently emerged. In particular, the shift towards greater decentralisation and the engagement of a wide-range of local actors that has occurred, such as through the Local Employment Council and the Local Association of the Representatives of Labor, Management, Government and the Community, provides an opportunity to ensure that labour market policy can more effectively address the challenges and opportunities that exist within a locality or region.