Uncertified ‘inadequate’ licenses abound in South Korea amid recession; Number of licenses surges 7-fold to nearly 7,000 in S. Korea
March 7, 2014 Leave a comment
Number of licenses surges 7-fold to nearly 7,000 in S. Korea
Yoon Jin-ho, Choi Hee-suk
2014.03.03 17:52:58
Uncertified ‘inadequate’ licenses abound in South Korea amid recession. The youth struggling to get a job, the employed people worried about job insecurity, and baby-boomers who have not prepared enough for retirement are flocking to win licenses, only to waste time and money.
2,749 new private licenses were created in 2013 alone, raising the total number of licenses to 6,773, said the Korea Research Institute for Vocational Education & Training Monday. This means the number of licenses in Korea increased nearly seven-fold in four years from 1,016 of 2009, making the country befitting to be called ‘republic of license.’
This led to the emergence of companies that specialize in creating valueless licenses. With too many licenses, a host of people have fallen victim to false advertisements, poor-quality textbooks, and no refund for cancelling education course after the course begins. But corporations say having licenses does not have big impact on inducing a hiring decision.
“A license is recognized as an important tool that speaks about an individual’s capacity, but as licenses have become too plentiful, the number of cases has surged where holding licenses is no longer recognized by anyone,” said Han Jung-hee, researcher at Korea Consumer Agency. “The value of licenses needs to be verified to distinguish worthwhile licenses from useless ones.”
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