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This study arose from a co-operative project between the Korea Research Institute for Vocational Education and Training (KRIVET) and the National Centre for Vocational Education Research (NCVER) in Australia. Areas providing positive outcomes for adults retraining and upgrading their skills were identified in both countries, as were areas not adequately meeting those needs. The study draws on statistical data from both countries in its detailed coverage of the issues. The monograph is divided into five sections: Introduction; Skill developments; Vocational education and training; Participation of adults in training; Summary and conclusion. Section one provides the background, objectives, framework, and data and methodology of the study. The second section discusses the economic and labour market contexts, current skill levels and the impact of demographic change in each country. Section three looks at the vocational education and training system in each country which includes funding issues and the qualifications framework in Australia and the national technical certification and credit bank systems in Korea. The fourth section includes a discussion of financial support for adult students and factors influencing their participation in training in Australia and participation in both training and retraining in Korea. The final section compares adult retraining and reskilling in Australia and Korea and implications from the Australian-Korean experience are explored.