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Increasing productivity growth in the service sector, which accounts for 67% of employment and 58% of value added in Korea, is essential to sustain high potential growth.
The age of retirement of employees should be raised by eliminating mandatory retirement and phasing out the retirement allowance. Active labour market policies should focus on policies to expand human capital rather than wage subsidies.
This summary study looks at existing Korean family, health and pension policies from an international perspective and considers them in view of the emerging policy challenges in Korea. It was presented at a policy forum on Low fertility and Ageing Society, in September 2006 in Seoul.
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This note, taken from Chapter 2 of Economic Policy Reforms: Going for Growth 2007, contains information about the progress in implementing reforms in line with the 2006 priorities for Korea.
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This note, taken from Chapter 2 of Economic Policy Reforms: Going for Growth 2006, contains information about the progress in implementing reforms in line with the 2005 priorities for Korea. In addition to passing of legislation or other decisions to implement reforms, the note records earlier stages of reform, such as government announcements and draft legislation presented to parliaments.
This book demonstrates some of the pitfalls associated with services liberalisation but none the less recommends perseverance and even acceleration of the reforms.