South Korea seeks to kick off ‘Miracle on Red River’

The Global HR Forum 2017 ushers in a new HR training co-operation between South Korea and Vietnam, Photo: Le Toan

The two-day event is expected to attract Vietnamese government officials, South Korean government officials, businesses, startups, and university representatives. It will focus on human resource exchanges and training between Vietnam and South Korea in the age of Industry 4.0.

Around 30 opinion leaders, including experts and scholars, will participate in the “Miracle on the Han River to Miracle on the Red River” talks. The forum aims to convey the various strategies that South Korea has successfully implemented in human resource development.

The forum has the goal of spreading global prosperity through collective human intelligence and human resource development. It is a good opportunity for Vietnam to approach the ‘Miracle on the Han River’, allowing the country to learn from South Korea’s experience in tapping into local potentials to develop the economy.

With the Global HR Forum in Vietnam 2017, both nations will have a new educational platform that enables in-depth discussion of policy development for cultivating human resources and exchanges.

Jointly organised by Vietnam’s Ministry of Education and Training, the Ministry of Education of the Republic of Korea, and the Korea Economic Daily, the event marks the 25th anniversary of formal diplomatic relations between South Korea and Vietnam.

According to The Economist, if Vietnam keeps its current growth momentum, it is likely to become an ‘Asian tiger’ over the course of the next 10 years, following the examples set by South Korea and Taiwan.

With a young population, political stability, vast untapped potential, a rising middle class, and a favourable location, Vietnam has become attractive to international investors. In recent years, especially since late 2016, Vietnam has welcomed new investment waves from South Korea, Sweden and Hong Kong.

However, amid deep global integration, as a number of free trade agreements are signed and take effect, the country needs to improve its human resources’ quality or it will remain an outsourcing nation for international groups.

South Korea is a typical example for strong growth based on human resources. The country, also deeply affected by past wars, has become a strong economy in Asia beginning in the 1990s, thanks to the rapid economic advancements of the ‘Miracle on the Han River’.