IMF lauds Korea's educational development

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IMF lauds Korea's educational development

 

May 4, 2005


South Korea has developed a high-performing education system over the last 40 years, becoming a model for other developing nations, the International Monetary Fund (IMF) said on April 13.

In its annual "World Monitoring Report," the global financial organization highly praised South Korea and Singapore as models that underdeveloped countries need to emulate to improve their education systems.

It pointed out that over the past 40 years, the two nations have developed sustainable economic growth and a high-accomplishing education system, from previously inept education systems and low incomes.

"In education, that has been exactly the approach taken over the last 40 years by countries, such as the Republic of Korea and Singapore, that have made the transition from having a low-income status and low average education levels to sustained economic growth and high-performing education systems," it said.

The organization added that the example of South Korea in the 1950s shows that poor nations can increase the number of teachers 10-fold in just one or two years by adopting practical education policies.

It said earlier reforms in countries such as Korea in the 1950s, Indonesia in the 1970s and Zimbabwe in the 1980s "demonstrate that with pragmatic strategies to adapt recruitment standards and restructure training, teacher production can be scaled up 10-fold or more in just one or two years."

It stressed that in order to improve education in poor countries, it is essential to secure sufficient education materials, nurture good teachers and set up a responsible compensation system.

 

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