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.
The productivity level in services relative to manufacturing is particularly low in Korea, dragging down economy-wide labour productivity, which is significantly below the average of the upper-half of OECD countries.
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.
These country notes contain indicators which compare the political and institutional frameworks of national governments as well as revenues and expenditures, employment, and compensation. They include a description of government policies on integrity, e-government and open government.
This study documents the liberalisation of the FDI regime in Korea between 1990 and 2010 and examines how and why it came about. The paper focuses on the lessons can we draw from the Korean experience about how to achieve rapid and sustainable reforms.
Labour market reform to improve growth prospects and reduce inequality is a top priority in the face of rapid population ageing and a dualistic labour market. Sustaining output growth requires policies to mitigate the impact of rapid population ageing by increasing labour inputs from under-employed segments of the population.
The rapid expansion of education in Korea is exceptional and has played a key role in its economic development. Sustaining Korea’s growth potential in the face of demographic headwinds requires further improving the education system to boost productivity growth.