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The tax-to-GDP ratio in Korea increased by 1.1 percentage points, from 25.2% in 2015 to 26.3% in 2016. The corresponding figures for the OECD average were an increase of 0.3 percentage points from 34.0% to 34.3% over the same period.
Those in-depth studies of the health system of member countries focus on economic issues. They assess the performance of health systems in a comparative context, identify the main challenges faced by the country health system and put forward policy options to better meet them. Reviews are initiated at the request of the country to be examined and emphasis is placed on specific issues of key policy interest.
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This note presents selected findings based on the set of well-being indicators published in How's Life? 2017.
These country profiles focus on countries' domestic legislation regarding key transfer pricing principles, including the arm's length principle, transfer pricing methods, comparability analysis, intangible property, intra-group services, cost contribution agreements, transfer pricing documentation, administrative approaches to avoiding and resolving disputes, safe harbours and other implementation measures.
Since joining the OECD in 1996, Korea has made impressive progress in raising living standards. Over 1996-2016, the country closed the gross domestic product (GDP) per capita gap with the OECD average by 26 percentage points. Vibrant exports underpinned strong economic growth, with Korea becoming the eighth largest exporter in the world. The country’s focus on innovation (its R&D spending is the second highest in the OECD) combined with its highly skilled population (it is among the top performers in the OECD’s Programme of International Student Assessment) supported this success. However, the convergence of Korea’s living standards to those in the most advanced countries has stalled in recent years. Output growth has slowed from 4.4% annually over 2001-10 to 2.8% since 2011. The country faces strong competition from emerging economies, notably the People’s Republic of China in low- and medium-end markets, and with advanced economies in high-end markets. This makes it more difficult for Korea to further expand its global market share.
I am delighted to be in Seoul, at the Joint Conference on Low Fertility, Challenges and Responses in the Era of Ageing Population. Let me first take this opportunity to thank our hosts: the Ministry of Health and Welfare and the Korean Institute of Health and Social Affairs (KIHASA). Our thanks also go to the Governments of Japan and China as well as to the United Nations Population Fund (UNFPA) for their support.
It gives me great pleasure to be here today to launch yet another important initiative that strengthens our partnership and brings us closer to creating the inclusive cities that we strive for.
It gives me great pleasure to welcome you to the Third Meeting of OECD Champion Mayors. Let me begin by thanking Mayor Park for hosting us today and in particular, for his leadership in taking up the challenge of meeting both climate and inclusion objectives.
Mr. Angel Gurría, Secretary-General of the OECD, was in Seoul on 18-19 October 2017 to meet with President Moon Jae-in and with several other high-level officials. While in Seoul, the Secretary-General opened the 3rd Meeting of OECD Champion Mayors for Inclusive Growth, alongside Mr. Park Won-Soon, Mayor of Seoul.
Government at a Glance provides a dashboard of key indicators to help you analyse international comparisons of public sector performance.