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.
This publication contains statistics on fisheries in OECD member countries (with the exception of Austria) and some non-member economies (Argentina, People's Republic of China, Colombia, Indonesia, Latvia, Lithuania, Peru, Russian Federation, South Africa, Chinese Taipei, and Thailand) from 2007 to 2014. Data provided concern fishing fleet capacity, employment in fisheries, fish landings, aquaculture production, recreational fisheries, government financial transfers, and imports and exports of fish.
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.
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.
The 2015 edition introduces more detailed analysis of participation in early childhood and tertiary levels of education. The report also examines first generation tertiary-educated adults’ educational and social mobility, labour market outcomes for recent graduates, and participation in employer-sponsored formal and/or non-formal education.
CV and photo of the Korean Ambassador to the OECD.
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Of the recommendations identified in this report, and for which we have been able to quantify the likely impact, it is estimated that their implementation would increase the level of GDP by 2½% over 10 years, generating around 180,000 extra jobs.