It is a great honour to be with you today to celebrate the 20th anniversary of Korea’s accession to our Organisation. The invitation to Korea to join the OECD represented the culmination of 35 years of extraordinary growth that transformed it from one of the poorest nations in the world to a major industrial power with one of the highest levels of R&D expenditure relative to GDP in the OECD.
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This note presents selected findings based on the set of well-being indicators published in How's Life? 2016.
Korea needs to boost productivity, increase employment and stoke economic activity as part of efforts to reverse current trends toward slower growth and low inflation, according to a new report from the OECD.
Korea is experiencing a spell of slower growth and low inflation. Productivity is low due to large gaps between manufacturing and services, and large companies and SMEs. Problems in the labour market raise inequality and poverty, and discourage employment.
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In the past 30 years Korea has gone from having a limited medical infrastructure, fragmented financing and limited population coverage, to a health care system characterised by universal coverage, one of the highest life expectancies in the world while still having one of the lowest levels of health expenditure among OECD countries.
Transport infrastructure opens new routes and creates connections. It increases prosperity by generating economic opportunities, reducing transport costs and supporting agglomeration economies. However, the increased traffic flows also generate environmental and social costs. In Korea, the amount of paved roads increased dramatically between 1951 and 2014, from 580 kilometres to over 87 000 kilometres. This expansion of Korea’s expressway, highway and major road network has created benefits for cities and rural areas across the country, contributing to both economic growth and inclusiveness. This rapid development of road infrastructure and motorisation has also resulted in relatively high traffic fatality rates. This report combines empirical research on the relationship between road infrastructure, inclusive economic development and traffic safety with an assessment of policies and governance structures to help governments find ways to create effective, safe and inclusive transport infrastructures.
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Korea has the 5th lowest tax wedge among the 34 OECD member countries in 2015. The country occupied the same position in 2014. The average single worker in Korea faced a tax wedge of 21.9% in 2015 compared with the OECD average of 35.9%.
This case study presents the system of funding for political parties and elections in Korea. It also discusses the role of the National Election Commission in overseeing, monitoring and enforcing election regulations.
Learn about ongoing regulatory policy developments in Korea and the 2015 indicators on regulatory policy and governance.
This report on the Public Procurement Service of Korea examines the effectiveness of its system, identifying good practices that can inspire reform efforts in other countries. In particular, the report highlights the efficiency gains achieved by implementation of a comprehensive e-procurement system and the savings generated by an integrated support for government-wide contracts. It also looks at how Korea is adopting a strategic and multi-dimensional approach to using public procurement in the support of small businesses and other social objectives. In identifying possible improvements to Korea’s system, recommendations include a more centralised look at workforce training and development issues and additional features for Korea’s e-procurement system, as well as a review of existing certification and preference programs.