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Output growth of around 4% is projected in 2014-15. However, a new growth strategy is essential to foster a creative economy and sustain growth. Policies are also needed to reduce income inequality and poverty, particularly among the elderly.
Korea needs to move away from its current economic model and implement a range of reforms to develop a creative economy that can sustain long-term growth, according to the latest OECD Economic Survey of Korea. The strategy should be accompanied by new measures to reduce income inequality and poverty, particularly among the elderly, the OECD said.
This database provides information on environmentally related taxes, fees and charges, tradable permit systems, deposit refund systems, environmentally motivated subsidies and voluntary approaches used in environmental policy in OECD member countries and a number of other countries. Developed in co-operation between the OECD and the European Environment Agency.
This page contains all information relating to implementation of the OECD Anti-Bribery Convention in Korea.
While the Korean innovation system is highly developed, it will need to address a number of economic and institutional challenges to sustain a steady flow of innovations and boost productivity. This review identifies a number of reforms.
The average worker in Korea faced a tax burden on labour income (tax wedge) of 21.4% in 2013 compared with the OECD average of 35.9%. Korea was ranked 30 of the 34 OECD member countries in this respect.
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Analysis for Korea from OECD trade facilitation indicators that identify areas where countries can improve border procedures, reduce trade costs, boost trade flows and reap greater benefits from international trade.
Marking 10 years of collaboration between the OECD and Korea on competition issues, this meeting focused on ways to optimise programmes to develop competition authorities and enhance international co-operation and international co-operation in cross-border competition cases.
The story of Korean education over the past 50 years is one of remarkable growth and achievement. Korea is one of the top performing countries in the Programme for International Student Assessment (PISA) survey and among those with the highest proportion of young people who have completed upper secondary and tertiary education.
Korea has achieved robust economic growth relative to other OECD countries since the financial and economic crisis, but its growth prospects are burdened by high levels of household debt and, in the medium term, rapid population ageing.