The South Korean government has worked on a project from 2013 to scout global talent for small and medium-sized enterprises (SMEs) that have difficulties in attract top-level human resources. According to software industry sources on Aug. 24, institutions and firms that recruited global talent through the project are seeing good results.
When SMEs select Korean talent abroad and apply for government support in order to carry out research and development projects, the government provides 70 percent of employment costs, or a maximum cost of 150 million won (USS$126,796), and other system expanses for up to five years through selection assessment.
Until now, a total of 38 talented global persons have moved into the country through the project. From this year, the third project in 2015 is under way, organized by the Institute for Information & Communications Technology Promotion (IITP). The way it works is that first, domestic firms and institutions choose workers from overseas firms, research institutes, and universities in the ICT sector who have working experience in research and development. Then second, they apply for support, and the government decides whether or not to support them through a review.
An official from the industry said, “With the support from the government, domestic SMEs see a virtuous cycle to tap into the global market by attracting global talent. Among the government’s current projects to support the ICT industry, it is a project from which firms can receive direct benefits.”