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Long-term investment for economic growth Long-term investment is necessary after the government lays the foundation for fiscal efficiency through welfare reform. We should not focus on short-term and stopgap financial steps for the vision -- instead we have to make long-term investments to realize it. For the sake of concurrent economic growth and welfare enhancement, Vision 2030 Korea calls for a long-term investment to expand the nation's growth momentum and raise people's quality of life. First of all, to expand growth momentum, more investment will be made in research and development, next-generation growth-engine projects, higher education and lifelong learning, and social service jobs. Then, investment in the welfare sector will be expanded to enhance the quality of life by meeting people's basic needs and narrowing the gap between the rich and poor. To that end, the government will introduce an Earned Income Tax Credit (EITC) system and Elderly Care Insurance and Housing Vouchers, while increasing investment in child-care services and after-school activities, health insurance and livelihood support for the poor. In addition, investment will be expanded on social infrastructure projects, military reform, efforts for national unification and active participation in the international community.

The result is that knowledge and our skills are becoming outdated more quickly.

Given that knowledge is becoming obsolete more rapidly, lifelong learning is now the order of the day.

In addition, many providers of continuous vocational training enhance the potential of their clients – be they companies or ordinary individuals. They are forging their way into high-tech segments or new thematic areas emerging from the issue of climate change. They are imparting more new and advanced knowledge on topics like information technologies and knowledge organisation as well as energy conservation (sustainability).