Unemployed South Korean University graduates are increasingly interested in Blockchain

 

Daejeon University is the latest in a series of South Korean universities to redesign parts of its finance and technology departments. The university made an official announcement on May 25 that it would open a new department of financial technology called „Future Convergence.

According to the announcement published by the Daejeon Journal, the curriculum will consist of such topics as smart healthcare, smart cities, smart factories, and various fields of employment at medical institutions through the implementation of blockchain technology.

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Universities in South Korea are promoting educational programming related to blockchain, big data and artificial intelligence in the midst of the country’s crisis in terms of university graduates struggling to find work. Daejong’s new financial technology department hopes that the work done there will foster „talents for the 4th industrial revolution.

Cointelegraph reported on May 22 that Suseong University, based in Daegu, reached an agreement with the Korea Artificial Intelligence Association to create a blockchain

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and AI (artificial intelligence) campus.

South Korean University Graduates Increasingly Seek Work Abroad

A report published in 2019 by Reuters reflected the flight of South Korean talent to other countries in search of work, due to the difficulty they face in Asia’s fourth largest economy.

Many young South Koreans have enrolled in government-funded programs designed to find work abroad. According to 2018 figures, South Korea generated the lowest number of jobs (97,000) since the global financial crisis.

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Kim So-young, an economics professor at Seoul National University, told Reuters that large companies managed to establish a survival model „without increasing hiring.

South Korea continues to strengthen blockchain industry

The South Korean government continues to maintain a positive stance towards the development of the blockchain industry in the country.

Two ministries announced their support for the industry in general on March 27 by allocating up to $3.2 million in funds for new local businesses and boosting the creation of new jobs there.