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KEI Spotlight

Shifting the South Korean economy

October 3, 2018

KEI Senior Director Troy Stangarone wrote for the Korea Times on October 1, identifying the fragility of South Korea's service sector as a critical factor in the country's flagging economic growth and diminished middle class. With compensation in the service sector among the lowest in the OECD, Stangarone sees the development of a productive service sector a critical component of the Moon government's stated aims of achieving both higher income and job growth. Moreover, he argues that South Korea's powerful manufacturing sector, particularly in electronics and semiconductor industries, will need to offer complementary services to better embed their products in the evolving market ecosystem.

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