Firms Urged to Recruit More Foreign Talent

From: The Korea Times | Nov. 13, 2009
By: Na Jeong-ju | Staff Reporter

President Lee Myung-bak urged economic policymakers Thursday to map out plans to help firms attract skilled foreign workers, saying this was the key to improving the country's global competitiveness.

"Nurturing a skilled workforce is crucial for economic growth. At the same time, we have to make it easier for companies to recruit foreign talent," Lee said during a policy coordination meeting with senior economic officials at Cheong Wa Dae.

Foreigners made up 13 percent of the workforce in OECD countries in 2005, up from 9 percent in 1995, while in Korea, the figure remains below 5 percent, according to the Samsung Economic Research Institute.

The CEO-turned-President also called for measures to help Korean parts and components makers reduce technology gaps with their global competitors.

"We must remove business barriers and encourage more competition between parts makers. They are not competitive enough to compete on the global stage," Lee said. "Making them competitive is important to achieve sustainable economic growth."

Lee said the administration has already introduced good policies for small- and mid-sized enterprises to help them compete.

However, what matters is their willingness to change and having confidence, he said.