S.Korea to begin last parliamentary audit under Moon Jae-in

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Seoul, Oct 1 | The South Korean National Assembly will launch its annual three-week audit of the government and state agencies on Friday, the last such parliamentary inspection under President Moon Jae-in’s administration.

A total of 745 government ministries and agencies will be subject to this year’s parliamentary investigation to be simultaneously conducted by the assembly’s 17 standing committees, Yonhap News Agency quoted legislative officials as saying.

The three-week event is predicted to be a scene of intense bipartisan disputes over a couple of scandals allegedly involving the leading presidential candidates of the ruling party and the main opposition party.

The ruling Democratic Party (DP) and the main opposition People Power Party (PPP) are gearing up for a showdown in the three-week event that could shape public opinion for the March 9, 2022, presidential election.

At issue is growing corruption allegations Gyeonggi Governor Lee Jae-myung, currently the dominant leader in the DP’s primary for the 2022 election, gave business favours to certain companies to help them join a highly lucrative land development project in the Seongnam city’s Daejang district in 2015 when he was the city’s mayor.

Former Prosecutor General Yoon Seok-youl, the PPP’s presidential primary front-runner, is separately under allegations he, while serving as the chief prosecutor, tried to meddle in politics by having one of his close subordinates prod the PPP to file criminal complaints against critical ruling bloc figures and journalists.

Another point of attention is the attendance of celebrities and big-name business leaders, including Kim Beom-su, founder of internet giant Kakao Corp., for an inquiry into alleged abuse of power by online platform operators.

Regional heads of global tech giants, such as Google, Apple and Facebook, were also scheduled to appear to answer lawmakers’ inquiries.

Other issues, such as the country’s fight against the Covid-19 pandemic and the DP’s push for a controversial media bill, are also expected to come up in the session.

Source: IANS

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Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal Campusutra.com  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal

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