The Ministry of Science and ICT announced on Feb. 26 that a new manpower training project would be launched to cover the fields of Industry 4.0 such as artificial intelligence (AI), cloud computing, big data, augmented reality (AR), virtual reality (VR), blockchain and fintech.
A total of 7.9 billion won will be invested in the project this year and the ministry is going to train 2,250 individuals for five years to come with the Ministry of Trade, Industry and Energy and the Ministry of Health and Welfare. The ministries are planning to increase the number of such individuals to 10,000 in the long term in the framework of the project.
The project is divided into cooperation projects, internship projects and sponsored training projects. In the cooperation projects, South Korean colleges are to conduct joint research with foreign colleges, research institutes and enterprises. Graduate students are scheduled to stay there for six to 12 months and 100 million won is provided for each in the case of one-year stay.
In the internship projects, graduate students participate in internship programs at such foreign organizations. The scheduled period is six to 12 months and the maximum pecuniary support for each participant is 60 million won. In the sponsored training projects, 30 graduate students will be sent to foreign colleges leading Industry 4.0 research for six-month studies starting from August this year.