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Does Learning Matter for Wages in Korea? International Comparison of Wage Returns to Adult Education and TrainingDoes Learning Matter for Wages in Korea? International Comparison of Wage Returns to Adult Education and Training

Other Titles
Does Learning Matter for Wages in Korea? International Comparison of Wage Returns to Adult Education and Training
Authors
박윤수
Issue Date
May-2022
Publisher
한국개발연구원
Keywords
Adult Education and Training; Lifelong Learning; Wage Education. Skills
Citation
KDI Journal of Economic Policy, v.44, no.2, pp.29 - 44
Journal Title
KDI Journal of Economic Policy
Volume
44
Number
2
Start Page
29
End Page
44
URI
https://scholarworks.sookmyung.ac.kr/handle/2020.sw.sookmyung/151378
DOI
10.23895/kdijep.2022.44.2.29
ISSN
2586-2995
Abstract
This study compares the wage equation in Korea to those in other countries, focusing on the wage returns to adult education and training (AET) participation. It is found that the wage compensation structure in Korea is associated mainly with job characteristics such as tenure and workplace size rather than with worker characteristics such as AET participation and cognitive abilities. It is also found that Korea’s AET participation is skewed toward non-job-related AET, relative to the situations in other countries. These findings imply that the link between a worker’s productivity and wage should be strengthened in order to incentivize workers to invest in AET relevant to the labor market.
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