By Peter S. Kim
The Paris Olympics that simply concluded was notable for a number of causes. First, it was again to normalcy after the COVID-stricken Tokyo Olympics, which was held in entrance of empty stands. The huge crowds in Paris put the reminiscence of the pandemic within the distant previous. Secondly, Russia was absent from the competitors amid its ongoing battle with Ukraine. Ukrainian athletes, nonetheless, had been current and picked up 12 medals — weird but in addition a mirrored image of modern-day warfare during which a rustic could be at struggle, but life goes on in lots of different methods. Thirdly, the ultimate medal tally had the U.S. and China on prime of the standings, hinting on the tussle that flows past sports activities. We’re reminded of the Chilly Conflict period between the U.S. and Russia and the Moscow Olympics when the U.S. boycotted. These examples show that sports activities achievements correlate extremely with financial and political standings.
As soon as upon a time the Olympic Video games had been revered for his or her equality and international attain extending to all international locations of various financial situations. However, like so many issues, the industrial actuality has caught on, with most Olympic athletes’ incomes no less than partially funded by their governments or the non-public sector. Some international locations concentrate on profitable as many medals as attainable to represent their ascendency, as Russia and China have finished. For these international locations, the Olympics is very politicized and a part of the nationwide propaganda. One technique has been to concentrate on sports activities that aren’t well-funded commercially and acquire comparatively simpler medal wins by way of heavy authorities assist.
South Korea did exceptionally properly in Paris, coming eighth in general standings with 32 whole medals. Specifically, the Korean feminine Olympians achieved excellent outcomes, bringing house 17 particular person medals versus 10 from the lads. This success on the Olympics runs counter to the gender hole persistent in Korean society and is one other reminder of the rising position of Korean ladies in an financial system dealing with demographic armageddon.
For years, Korean ladies have loved international dominance in golf, a lot to the fascination of conventional powers. I attribute the key to success to a mix of presidency and company sponsorship, laser-focused expertise screening from an early age and a rigorous and systematic coaching regime. The customarily ruthless aggressive atmosphere just isn’t restricted to women’ golf, as the identical system is obvious in college entrance exams, Okay-pop and Olympic sports activities to nice impact. The widespread thread that runs by way of the system is domestically often known as the “hagwon” system. A hagwon is a non-public educational establishment the place Korean children are recognized from an early age to decide to an intensely aggressive regime. Whether or not it’s for college entrance, skilled certification or sports activities, the very best hagwons manufacture high-achieving stars in virtually any subject.
In recent times, South Korea’s cultural achievements within the arts, music and movie have improved remarkably. The wildly profitable Okay-pop trade mannequin additionally makes use of the hagwon system, the place children from as younger as elementary faculty are actually sacrificing educational paths to go “all in” on pursuing their dream within the leisure trade. In fact, we see comparable paths in different international locations in skilled sports activities, however it’s a pretty new idea for a rustic the place emphasis on schooling has been paramount.
It’s fascinating that Korean women usually tend to pursue the leisure trade as a occupation. To make certain, the worldwide success of lady teams like Blackpink definitely is a motive, however there could also be one more reason. Korean feminine employees are topic to one of many highest wage gaps relative to males within the OECD. And but, Korean ladies now obtain increased ranges of schooling than males. The persistent wage disparity is probably going resulting from conventional company tradition and the handicap of ladies having to bear kids on the expense of their careers. There’s a disproportionately low variety of professions obtainable the place Korean ladies can compete on equal phrases with males. Korean ladies have proven that they’ve distinctive expertise and drive to attain international competitiveness.
Already, we’re seeing an growing variety of Korean ladies in prime government positions in industries just like the web, leisure, cosmetics and tradition. Sadly, for these executives to attain that stage of seniority, it might include the choice to have fewer kids, if in any respect. Korean society locations the unfair burden of elevating kids on ladies regardless of the quickly rising portion of double-income households, which has reached virtually 50 %. The Korean financial system is shortly approaching ranges of developed international locations within the West, however its social order stays mired within the Eighties.
The hole between financial growth and societal progress is without doubt one of the key causes for Korea’s plummeting birthrate. Society continues to dictate that girls bear the burden of child-rearing, schooling and even the care of getting older grandparents. The Korean authorities not too long ago allowed international home helpers to return to Korea to ease the burden of kid care. Whereas a step in the appropriate path, this measure doesn’t tackle the foundation of the issue. Japan has spent the previous three many years grappling with comparable points with out a lot success. The excellent achievements of Korean ladies in sports activities and more and more different fields give hope for avoiding the destiny that also hounds Japan right now.
Peter S. Kim is managing director at KB Monetary Group.
