Reports

In Korea's dynamic labour market, job displacement (involuntary job loss due to firm closure or downsizing) affects many workers over the course of their working lives. Some workers are more vulnerable than others to this risk and may face long periods of unemployment/inactivity after displacement, particularly if their skills are not well-matched to emerging job opportunities. Even when they find new jobs, displaced workers tend to be paid less, have fewer benefits and are more likely to be overskilled than in the jobs they held prior to displacement. Helping displaced workers get back into good jobs quickly should be a key goal of labour market policy. To achieve this goal, Korea needs to increase resources devoted to re-employment programmes, such as job-search training and job matching, to improve their performance and better target those who need the most help. Existing training programmes need to be revised to ensure that people are obtaining skills that will help them find work. The social safety net also needs to be strengthened to lower the personal and societal costs of displacement, notably by improving the coverage of unemployment benefits.

Governments are major issuers of debt instruments in the global financial market. This volume provides quantitative information on central government debt instruments for the 34 OECD member countries to meet the analytical requirements of users such as policy makers, debt management experts and market analysts.  Statistics are presented according to a comprehensive standard framework to allow cross-country comparison.  Country methodological notes provide information on debt issuance in each country as well as on the institutional and regulatory framework governing debt management policy and selling techniques.

Korea, the world’s thirteenth-largest economy and the seventh-largest exporter, is an energy-intensive nation. In 2008, the country adopted a long-term 'green growth' strategy to foster economic development by means of low-carbon technologies and clean energy; since then, the government has implemented many policies to support these goals. In 2012, Korea announced an emissions-trading scheme -- the first of its kind in Asia -- which will be implemented in 2015. This represents a major step towards achieving its target of a 30% reduction in greenhouse gas emissions by 2020. Strong energy efficiency policies have been developed to complement the emissions-reduction target. Korea has made efforts to enhance energy security by taking measures to diversify energy sources, reduce the use of fossil fuels and foster the development of renewable energy alongside the expansion of its nuclear energy programme. Government expenditure on energy-related RD&D is among the highest in the OECD. Progress in some sectors has been slower, and the lack of a clear, long-term vision for its electricity and natural gas markets is one of the greatest energy-policy challenges facing the Korean government. Energy markets are dominated by incumbents and have been slow to open up to competition. This review analyses the energy-policy challenges facing Korea and provides sector-based assessments and recommendations for further policy improvements. It is intended to help guide the country towards a more secure and sustainable energy future.