||Korea is confronting a serious challenges. It has to improve income equality in the context of a severe demographic transition. Such a transition, from one of the youngest populations in the OECD at present to the second oldest by 2050, may boost the need for public spending and slow economic growth. In this context and as the pace of population ageing is accelerating, it is important to act quickly in a wide range of areas:
Against the background of these broad challenges, which are discussed in a specific, setting-the-ground, Chapter, the report suggests policy options, based on the practices and reforms of other countries, in the following four areas: I) Income Distribution and Poverty; II) Tackling the Duality of the Labour Market; III) Early Childcare; and IV) Moving beyond Hospitals to better Care in the Community.
- Policies to sustain Korea’s growth potential in the face of falling labour inputs;
- Measures that improve both growth and equality;
- Carefully-targeted increases in social spending to reduce inequality and poverty;
- Financing higher social spending, with priority given to a reform of tax and social security that minimises the negative impact on output growth.
A policy toolkit for growth and social cohesion in Korea
Chapter 1. Overview: Why is social cohesion an urgent issue in Korea?
Chapter 2. Income distribution and poverty among the working-age population and implications
for social welfare policies
Chapter 3. Policies to tackle labour market duality in Korea
Chapter 4. Combined early childhood education and care measures to ensure social cohesion
Chapter 5. Moving from hospitals to primary care for chronic diseases
How to obtain this report
- Back to Work: Korea – Improving the Re-employment Prospects of Displaced Workers (forthcoming)
- OECD Economic Surveys: Korea (2012)
- OECD Reviews of Vocational Education and Training: A Skills beyond School Review of Korea (2012)
- OECD Reviews of Health Care Quality: Korea 2012 – Raising Standards (2012)
- Closing the Gender Gap: Act Now (2012)
- OECD Employment Outlook 2012 (2012)
- Health at a Glance Asia/Pacific 2012 (2012)
- Pensions at a Glance Asia/Pacific 2011 (2012)
- Society at a Glance Asia/Pacific 2011 (2012)
- Divided We Stand: Why Inequality Keeps Rising (2011)