Korea’s transformation from one of the poorest countries in the world in the 1950s to a major industrial power and member of the OECD was exceptionally rapid, reflecting good policies, notably sound fiscal and monetary policy, high levels of investment in human and physical capital and an outward orientation that increased its share of world trade.
Short-term prospects for the Korean economy are good, with an uptick in world trade and fiscal policy driving growth, but productivity remains relatively low and the country faces the most rapid population ageing in the OECD area, according to a new report from the OECD.
Korean, PDF, 538kb
부러진 사회적 사다리? 사회이동 (social mobility) 증진을 위한 정책 방향
English, PDF, 943kb
A broken social elevator? Key findings for Korea
English, PDF, 505kb
Korea had the 30th lowest tax wedge among the 35 OECD member countries in 2017. The country occupied the same position in 2016. The average single worker in Korea faced a tax wedge of 22.6% in 2017 compared with the OECD average of 35.9%.
English, PDF, 278kb
Agricultural research fellowship award grants and international conferences sponsorships of the Co-operative Research Programme (CRP): Biological Resource Management for Sustainable Agricultural Systems; advice for applicants for funding.
Korea’s economy has progressed rapidly over the past 40 years, catching up with the level of well-being in most OECD countries. It now needs to continue and speed up the reforms of its labour market in order to strengthen its social safety net, create better quality jobs and boost inclusive growth, according to a new OECD report.