Graduates Without Jobs in South Korea are Clinging to Blockchain for a Solution

Is blockchain the answer to unemployment in South Korea?

Some South Korean universities, including Daejeon University, is modifying the plan of work in the finance and technology departments. Daejoon is opening another department for finance and technology (fintech) students and it will be called “Future Convergence.”

The new curriculum will have courses such as smart factory, smart health care, smart city and other courses that can link blockchain technology to medical practice.

South Korean universities are adopting blockchain into their curriculum with an aim to make their graduates more ready for employment. The schools think of it as improving talents that can make the students more relevant for the fourth industrial revolution.

Already, the Suseong University in Daegu and the Korea Artificial Intelligence Association have met to discuss the possibilities of building a blockchain and AI school.

Graduates from South Korea go Abroad in Search of Work

Reuters made it known last year that several graduates in South Korea fly to other countries to find jobs despite being trained in the fourth largest economy in Asia.

Many graduates in South Korea are looking for places where the government wants people with their qualifications. In 2018, South Korea performed the worst in job creation, which were only about 97,000.

The low performance was still a result of the global financial crisis. A professor of economics at Seoul National University, Kim So-young, even revealed that some major companies only managed to remain alive without the capability of employing fresh labor.

South Korea’s support for the blockchain industry still strong

The government of South Korea says it is not going back in its support for the blockchain industry.

On March 27, the industry received a financial boost of $3.2 million from two ministries. The money was allocated to help new blockchain businesses and support them to the point that they can employ labour.

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