Invest in women for a gender dividend to transform India

livemint.com:

In the 1990s, South Korea faced a pivotal moment in its economic development. At the time, the country was rapidly industrializing and seeking ways to sustain its economic growth. Recognizing the untapped potential of half its population, South Korea embarked on a series of reforms aimed at increasing women’s participation in the workforce and promoting gender equality.

One of Seoul’s key initiatives was the revision of its Equal Employment Act in 1999, which strengthened protections against gender discrimination in the workplace and encouraged the hiring and promotion of women. Additionally, the government invested in childcare facilities and parental leave policies, making it easier for women to balance work and family responsibilities. The results of these efforts were transformative.

By the early 2000s, South Korea’s female labour force participation rate had increased significantly, contributing to the country’s economic growth and resilience. The increased participation of women in the country’s workforce not only brought in new talent and perspectives, but also led to a more diverse and dynamic economy. Moreover, the emphasis on gender equality extended beyond the workforce.

Education reforms ensured that girls had equal access to quality education, leading to a highly educated female population that further fuelled economic development. Today, South Korea is known for its technological advancements and innovative industries, a testament to the power of increasing women’s participation in the workforce and investing in gender equality. “Invest in Women: Accelerate Progress," is this year’s international clarion call on gender equity, and it demands urgent action.