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Education and Training Services-ROK

Education and Training Services

Republic of Korea

Overview

2004 2005 2006 (estimated)

Total Market Size 102,044 97,750 104,018

Total Local Production 97,683 93,018 98,740

Total Exports N/A N/A 2

Total Imports 4,361 4,732 5,275

(Unit: USD million)

[USD1= 1,200 Won (2004), 1,100 Won (2005), 950 (2006)]

(Source: Ministry of Education and Human Resources, Korea National Statistical Office)

Korea’s education market plays a significant role in the country’s overall economy and offers exceptionally good opportunities for the U.S. education sector. According to the Organization for Economic Cooperation and Development (OECD), Korea is among the highest education investors among developed countries. Korea’s education segment offers good opportunities for U.S. educational institutions because Koreans still prefer the U.S. to other nations competing for education dollars. The Korean market also looks promising for cooperative programs involving e-learning and educational training in the fields of language training, business administration, and technical programs.

Higher education throughout Korean history has been synonymous with privilege and power. A degree from a well-known institution is a status symbol and essential for finding the right job in the right company. Coveted spaces in Korea’s top schools are open for competition from all students, but are attainable only by a few. Many talented students opt for the best schools overseas. The desire to obtain a diploma from an accredited overseas school translates into opportunities for U.S. schools to recruit some of Korea’s most talented students, and Koreans remain willing to spend a large portion of their income on education.

The market for overseas education continues to grow and is being augmented by

e-learning as well as business training. According to the Institute of International Education Open Door report, in the 2005/2006 academic year, 58,847 students from Korea were studying in full-time degree programs in the U.S., which represents the largest increase among the top ten countries sending students to the U.S. Korea demonstrated strong growth in 2005/2006 with an increase of 10 percent over the previous year’s number of students in the U.S. Korea is the third-leading supplier of foreign students to America, after China and India, for the third year in a row.

Rank Place of Origin 2004/2005 2005/2006 2005/2006

1 India 80,466 76,503 - 5%

2 China 62,523 62,582 Less than 1%

3 S. Korea 53,358 58,847 10%

4 Japan 42,215 38,712 -8%

Source: Institute of International Education

Korean Ministry of Education statistics indicate that as of April 2006, a total of 190,364 Korean students are studying abroad. The United States (30.4 percent), China (15.3 percent), U.K. (9.9 percent), Australia (8.9 percent), Japan (8 percent), Canada (6.6 percent), and other countries (20.9 percent) host most of these Korean students. Over the past few years, the U.S. share of the Korean study abroad market has remained fairly constant, although from 2001 it began to see a slight erosion as some Korean students considered other options to U.S. schools, primarily because of relatively higher costs to attend American schools and perceived challenges to receiving a U.S. F-1 student visa. Although American schools and institutes remain very popular with Koreans, other countries such as Britain, China, Australia, Japan, and Canada are also vigorously promoting themselves as attractive destinations for Korean students.

Best Products/Services

- 6-12 month business, finance, or IT training for mid-career professionals

- Community colleges

- Vocational training in the manufacturing sector

- Short-term English language training

Opportunities

Market demand continues to grow for short-term (four weeks to two months) or long-term (one year) English language training in U.S. schools for college students during summer (typically from the middle of June until the end of August) and/or winter breaks (typically from the end of December until the end of February). Among Korean college students, English language training in the U.S. not only improves language skills but also provides a U.S. school and cultural experience. This experience leads many students to choose the U.S. for subsequent academic study.

Participation in education fairs held in Korea is one way to recruit. The fairs are categorized by level of schools (high schools, community colleges, four-year colleges and graduate programs). Almost all education fairs are held during the spring (March) and fall (Sep. and Oct.).

Resources

Trade Shows

MBA Tours

http://www.thembatour.com/index.shtml

American Education Fair

http://www.isnexpo.com/

University Fair organized by Linden Tours

http://www.lindentours.com/int_students/fairs/upcoming_fairs.shtml

Korea Student Fair

www.aife.usa.org

Key Contacts

Ministry of Education and Human Resources