This chapter examines the rise and institutionalization of microcredentials in South Korea’s science, technology, engineering, and mathematics (STEM) education ecosystem, focusing on how government-led initiatives and industry-driven efforts contribute to workforce development in emerging technological fields. This study employed the TOEX framework, an integrated theoretical approach that combines the technology–organization–environment framework with institutional and signaling theories. Drawing on this comprehensive framework, this study explored the rapid expansion of microcredential offerings—116 courses across 22 fields—by 2023, with more than 150,000 learners. With robust digital infrastructures, close industry–academia collaboration, and governmental support, programs such as Match-Up and the one developed by Hyundai NGV achieved notable outcomes, including high completion rates and satisfaction scores. However, challenges remain in ensuring credential portability, establishing stronger employer recognition, and integrating microcredentials into existing academic and vocational systems. This study proposed an integrated policy approach to address these challenges, emphasizing improved validation frameworks, cross-industry standards, and global interoperability. Examining South Korea’s experience offers insights into how microcredentials can enhance STEM education and better align skill development with rapidly shifting labor market needs.