Revitalizing Regional Investment through Workforce Policy: Evaluating the South Korean K-Quick Start Program
Youngmin Kim
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Youngmin Kim: Korea Institute for Industrial Economics and Trade
No 22, Industrial Economic Review from Korea Institute for Industrial Economics and Trade
Abstract:
This paper argues that linking labor supply enhancement to regional investment is an appropriate policy means to promote regional investment.
The US state of Georgia has attracted advanced industry and large-scale investment through its Quick Start program, that is essentially a customized workforce supply program for investors and entrepreneurs. Benchmarking Georgia, the Korean government has implemented its own K-Quick Start project, modifying it to local characteristics. It is designed to equalize labor supply and demand in the early stages of regional investment.
The policy was found to have had a positive impact on job creation and local economic activity, but failed to attract advanced industries and large-scale investments due to the restrictions on participating firms and training programs centered mostly on field work.
This study evaluates the K-Quick Start policy in more detail, and proposes a handful of policy recommendations to maximize its effectiveness.
Keywords: workforce policy; employment policy; regional economics; regional investment; regional development (search for similar items in EconPapers)
JEL-codes: E24 R11 R58 (search for similar items in EconPapers)
Pages: 12
Date: 2025-05-31
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