Companies Directly Award Master's and Doctoral Degrees... Establishment of In-House Graduate School System

Companies Can Now Establish In-House Graduate Schools
Master's and Doctoral Degrees Can Be Awarded Directly by Companies
Legal Foundation for Advanced Industry Academies and Professional Talent System Established

From now on, companies such as Samsung and LG will be able to operate in-house graduate schools and directly confer master's and doctoral degrees.

The Ministry of Trade, Industry and Energy announced that the Special Act on Innovation of Talent in Advanced Industries (Advanced Talent Special Act) will be enforced starting from the 17th. The enforcement decree was approved at the Cabinet meeting on the 14th. The Advanced Talent Special Act includes provisions for establishing an in-house graduate school system, supporting industry participation in talent development such as advanced industry academies, and creating a professional talent cultivation system.

With the enforcement of the Advanced Talent Special Act, companies will be able to formally establish and operate in-house graduate schools that can confer master's and doctoral degrees. Until now, only in-house colleges that could confer bachelor's degrees as part of lifelong education support were allowed to operate.

Through the in-house graduate school system, companies will be able to cultivate customized talent needed by the company by utilizing on-site and in-house experts as well as advanced and high-cost equipment. Additionally, employees of the company will be able to obtain formal master's and doctoral degrees while balancing work and study. The AI Graduate School currently being promoted by LG Group is expected to become the first in-house graduate school in Korea.

The government expects that the in-house graduate school system will further activate industry-academia cooperation, such as university faculty lecturing at companies and joint research between universities and companies.

Furthermore, with the enforcement of the Advanced Talent Special Act, a legal foundation and government support basis have been established for advanced industry academies and corporate talent development institutions. The government plans to designate a Display Academy this year following the Semiconductor Academy in 2023 and the Secondary Battery Academy in 2024. Corporate talent development institutions refer to institutions designated by companies for talent cultivation and education, similar to corporate-affiliated research institutes.

A new "professional talent" system will be established to allow individuals with rich experience and knowledge in advanced industries to be appointed not only as adjunct or invited faculty at universities but also as regular faculty members. Professional talents will also have priority participation in government talent development projects.

The "Advanced Industry Talent Innovation Center," which supports all talent innovation activities of advanced companies, will be newly established at the Korea Institute for Advancement of Technology on the 17th. The center will carry out tasks such as conducting demand surveys for talent acquisition projects, investigating the utilization status of young and female advanced personnel, and handling designation and registration applications for advanced industry academies, corporate talent development institutions, and professional talents.

An official from the Ministry of Trade, Industry and Energy stated, "As of 2023, the industry sector holds 79% of domestic research and development (R&D) investment and 73% of research personnel," adding, "Active participation of the industry in nurturing talent for advanced industries is necessary, and the government will institutionally support the industry's efforts in talent development through the enforcement of this law."

This content was produced with the assistance of AI translation services.