Australia, Japan, Korea, and New Zealand did better than most countries in flattening the curve of the COVID-19 epidemic and containing the first wave of the virus, according to the OECD’s first analysis of the impact of COVID-19 on health systems of countries across the Asia-Pacific as well as governments’ responses to control the virus.
Korea has limited the damage to its economy from the Covid-19 crisis with swift and effective measures to contain the virus and protect households and businesses. Support for workers and the export-dependent economy should continue, given falling employment and the risk of prolonged disruption to trade and global value chains, according to a new OECD report.
Korea should adjust the categories and rules of its different labour migration programmes to better match labour migration to short-term and structural labour needs, according to a new OECD report.
Korea must step up enforcement of its foreign bribery laws and strengthen the capacities of law enforcement agencies to proactively detect and investigate the offence, according to a new report by the OECD Working Group on Bribery.
Short-term prospects for the Korean economy are good, with an uptick in world trade and fiscal policy driving growth, but productivity remains relatively low and the country faces the most rapid population ageing in the OECD area, according to a new report from the OECD.
Korea’s economy has progressed rapidly over the past 40 years, catching up with the level of well-being in most OECD countries. It now needs to continue and speed up the reforms of its labour market in order to strengthen its social safety net, create better quality jobs and boost inclusive growth, according to a new OECD report.
A success story of international development itself, Korea is now a driving force in global aid, focusing on the neediest countries and shaping strategy by sharing its experience and bridging the gap between rich and poor countries. Korea will have even greater impact if it can produce a clear plan to increase aid volumes in line with its stated ambitions, according to a new OECD Review.
The fourth annual edition of Revenue Statistics in Asian Countries covers seven countries, including Kazakhstan for the first time. It shows that the tax-to-GDP ratio in all these countries are lower than the OECD average of 34.3% in 2015, which highlights that scope remains for increasing tax mobilisation, especially in Indonesia, Kazakhstan, Malaysia and the Philippines to achieve sustainable growth.
Korea has improved access to environmental services and become a world leader in climate change mitigation technology.
In 2014, the tax-to-GDP ratios of Indonesia, Malaysia, the Philippines and Singapore were below 17% of GDP compared to Japan and Korea, which both recorded tax-to-GDP ratios above 24%,according to new data released in the third edition of the OECD’s annual publication Revenue Statistics in Asian Countries.