One-half of Korea's population aged 65 and over lives in relative poverty, nearly four times higher than the OECD average of 13%. Elderly poverty is thus an urgent social problem.
The Korean government has made fostering a “creative economy” a top priority. The goal is to shift Korea's economic paradigm to one based on innovation in which new start-ups and venture businesses play a key role.
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Korea has a huge educational gap between the younger and older generations.
To strengthen social cohesion, a top government priority, it is essential to address the labour market roots of inequality by breaking down dualism to reduce the share of non-regular workers and to boost the employment ratio toward the government’s 70% target.
A creative economy requires innovation-friendly conditions. Korea’s innovation system should be improved by upgrading universities and expanding their role in business R&D, while increasing international collaboration in R&D from its current low level.
As the significance of the creative economy continues to grow, important synergies with tourism are emerging, offering considerable potential to grow demand and develop new products, experiences and markets.These new links are driving a shift from conventional models of cultural tourism to new models of creative tourism based on intangible culture and contemporary creativity. This report examines the growing relationship between
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The ability to measure innovation is essential to an improvement strategy in education. This country note analyses how the practices are changing within classrooms and educational organisations and how teachers develop and use their pedagogical resources.
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.
Focused on "Unlocking investment for sustainable growth and jobs", the 2015 OECD Ministerial Council Meeting (MCM) will be held at the OECD Headquarters in Paris on Wednesday and Thursday 3-4 June 2015, under the chairmanship of the Netherlands, with the Czech Republic, France and Korea as Vice-Chairs.