Demonstrating that business is done differently overseas, the Seoul government has announced that it will increase the number of CPAs by 35.1 percent in 2001. The increase is designed to enhance the corporate marketplace and the quality of accounting services.
The government will select 750 public accountants, or 295 more than it selected in 2000. In fact, over the last five years, the number chosen has steadily increased, with the total as of of late September at 5,108.
To continue to meet the demand, the governmnet plans a 20 percent increase each year.
"The demand for quality accounting services is rising, as non-transparent firms are finding it hard to survive in the market," a ministry official explained.