Korea’s development over the past 50 years has been remarkable. Many foreigners have ventured to the Peninsula to learn how this country has become so successful in such a short time. The love and passion for learning, supported by the Korean education system, has also attracted researchers from other countries to learn the “successful formula” to the country’s stride forward in economic performance (Fouser and Koehler 2014). Koreans have a deep respect for education that is shown by the amount of money spent by the average household on educating their children through various “cram” schools (Barber 2010). This amount is a higher percentage of household income than their counterparts in many other nations. However, since these schools are fee driven, and not accessible to everyone, a growing inequality in society is fostered leading to a noticeable gap in a society that values an egalitarian ethos. The Korean Vocational Education and Training Sector has been the backbone to Korea’s sustained economic development. This is serviced by a dedicated and militant-like training system that has brought about the “chaebols,” a Korean word for the country’s main conglomerate companies whose impact on the overall success of the country is significant. However, without proper policies to support learning and training in a globalized world, where more collaboration with stakeholders within the country and beyond is needed, Korea faces the challenge of not having skilled manpower to drive key industries forward in the twenty-first century. © 2017, Springer International Publishing AG.
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