The Federation of Korean Industries and the American Chamber of Commerce in South Korea will take part in a joint project with the Seoul government in a bid to create more jobs for college graduates in the science and engineering fields.

FKI and AMCHM said they will launch a 'win-win project' that would provide job opportunities for science and engineering graduates to work for research and development centers of foreign companies in South Korea.

The government plans to provide partial financial support for the selected graduates.

A senior FKI official said the project would be beneficial to South Korean and foreign companies as well as to job-seekers. The official also said FKI and AMCHAM would foster up to 40,000 highly-trained workers over a ten-year period, beginning in 2005.