Through a selection system that emphasizes excellence and the highest rates of higher education graduates in the OECD, Korea is a prime market for foreign universities. A strong tendency to study abroad is constantly spreading but recent studies display a slowdown in the trend.
What are the main reasons ? Korea is the OECD country with the highest per capita gdp, expenditure on education. Studying abroad has long been a substantial advantage in the job market. The morning calm country has the largest population in graduated student from higher education with 64% from 25 to 34 years old segment, compared with an average of 39% in the OECD. However, it seems that studying abroad alone is not sufficient to find a job. Even an impact survey, published by one of the major recruitment agencies in Korea, Saramin in 2016. By conducting a debate, they stated almost 80% of young korean wished to expatriate themselves in order to avoid competition within the labour market’s ultra employment.
WHAT KIND OF EDUCATION PROJECTIONS FOR WHICH COUNTRIES ?
Korean students are generally keen on american universities. Over the period from 2012 to 2015, more than one third of the students settled for the United States. They are massive, 63 000 students estimated in 2016. It showcases an important source of income for the american universities : $2.3 billion in the same year. They were the third largest group of foreign students in the country. The trends also show that Japan was second, with Australia and the United Kingdom as cardinal reference points.
French schools are still struggling to compete in this market. Korean students studying in France, only 6400 has been recorded so far in 2014. Even though these indicators tends to heighten, french universities brook from their international ranking in the STEM and MBA courses. However, the arts stream remain particularly attractive for korean students.
China is gradually becoming enticing to young people and future graduate students. The factual situation in Korea is as follows : they deal with professional areas with a very uncertain future in their country. As a matter of fact, China is a growing interest in remaining close, geographically speaking, regarded to United States position. Meanwhile, great opportunities after the end of the studies are promising.
THE PRONENESS FOR THE FUTURE
Yet, recent studies on the education market display two long-run trends can play in enhancing France’s stance : a general tendency to a downward for long term studies, fostering more on shorter experiments (6 months and 1 year). Simultaneously, the middle class is more reluctant to spend large amounts of funds for tuition fees.
In this respect, french universities are not that expensive compared with american ones. Same goes for training, becoming more valuable and recognized. In addition, France takes up the privilege to be a first-choice destination for obtaining a genuine know-how. Thus, labour market development in multiple areas, as luxury, fashion and artistic sectors plays a prominent role in korean students’ choices.
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