The Graduate Glut
South Korea is perhaps the most over-educated country in the world.
More people are enrolled in its universities and colleges than are in the target age group for tertiary education. This is probably due to older people and foreigners.
Although the proportion of students who are foreign is low – just 1.6 per cent in 2011 according to the OECD – their numbers are increasing fast. In the past decade they’ve grown more than a thousandfold. In particular Korea attracts a lot of Chinese students.
Although it’s the most extreme example, it’s not the only country to see people pour into higher education over the past decade. Plenty of other developed nations are seeing education levels soar. A recent paper found that half of American and European workers’ education level is mismatched with their current job – the majority of whom are over-educated, and under-employed.
