The 2016 OECD Economic Survey of Korea: Promoting Socially Inclusive Growth
Randall Jones | Head of the Japan/Korea Desk, Organization for Economic Co-operation and Development
Koshy Mathai | Deputy Division Chief, Asia and Pacific Department, International Monetary Fund
The OECD recently released the 2016 Economic Survey of Korea. While economic growth in Korea remained above the OECD average from 2011-2015, economic growth has also slowed to an annual average rate of 2.75 percent. More recently, the decline in global trade has also seen a slowdown in Korean exports, which remain an important part of economic growth for Korea. Over the same period, labor productivity has declined, while problems in the labor market have increased income inequality.
Please enjoy our discussion of the current state of the Korean economy and the types of polices Korea could pursue to address challenges related to productivity, unemployment, and social cohesion.