Removing Anti-corporation Sentiment

This year’s budget is expected to grow two fold from last year to five billion won-

One hundred twenty middle and high school teachers gathered at the conference room of the Korea Chamber of Commerce & Industry to listen to a lecture by Kang Shin-ho (79), the chairman of the Federation of Korean Industries, on January 24. The theme was “Understanding Corporations and the Market Economy.” Chairman Kang, who will turn 80, lectured at an education program led by economic organizations, targeting social studies teachers from middle and high schools, from the beginning of the year.

In addition to Kang, Son Kyung-sik (67), the chairman of the Korea Chamber of Commerce & Industry, Lee Su-young (64), the chairman of the Korea Employers Federation, Kim Jae-cheol (71), the chairman of the Korea International Trade Association, and Kim Yong-ku (66), the chairman of the Korea Federation of Small and Medium Business, joined the teaching force.

The financial industry explains that the fact that five heads of economic organizations personally gave lectures on the economy reflects the serious anti-corporate sentiment in society and the dire need for economic education.

Letting them know the reality-

The Federation of Korean Industries instructed 240 middle school teachers on teaching methods for economic education as done by the National Council on Economic Education (NCEE) in the United States. This program introduces how to teach abstract economic concepts such as demand, supply, and labor through role-play in an easily comprehensible way.

The Federation of Korean Industries visited and studied the factories of Hyundai Motor and LG Electronics in China with 100 middle school social studies teachers for 10 days starting on January 14.

Yang Keum-seung, the head of the society cooperation team at the Federation of Korean Industries, emphasized that teachers solely depending on textbooks have limitations to sufficiently understand corporations and the market economy and thus to teaching students. They can educate students properly after taking a tour of companies’ factories and understanding the market economy.

Park Wan-kyu, a teacher from Deokshin High School in Incheon who participated in the program, said, “I realized that I had a prejudiced view of corporations during this training. The most valuable achievement was that I secured enough data to explain the proper functions of corporations to my students.”

This year, programs targeting middle and high school students and undergraduates have mushroomed. The Federation of Korean Industries ran “The Youth English Economy Camp” in English for middle and high school students from January 10 to 20. Furthermore, the Federation of Korean Industries and the Korea Chamber of Commerce & Industry will establish regular courses from which credits are acknowledged in colleges and hold an economy camp with renowned CEOs invited.

Jeong-Hun Park sunshade@donga.com