1887

2020 OECD Economic Surveys: Korea 2020

image of OECD Economic Surveys: Korea 2020

Economic activity has contracted less in Korea than in other OECD countries, thanks to the prompt and effective reaction of the authorities to contain the spread of the COVID-19 virus and to the wide-ranging government support to households and businesses. Nevertheless, the pandemic generates strong headwinds. Huge uncertainty surrounds global economic prospects and hence the outlook for exports, which are a key engine of the Korean economy. The crisis will have a lasting effect on some economic sectors and therefore require significant resource reallocation. The impact of the COVID-19 pandemic compounds pre-existing challenges, notably rapid population ageing and relatively low productivity in parts of the economy. This Survey draws on the OECD Jobs Strategy to outline policies to enable the creation of more and higher-quality jobs and foster more inclusive growth. It also highlights how further digitalisation can boost productivity growth, competitiveness and well-being.

SPECIAL FEATURES: AGEING, DIGITALISATION

English Also available in: French

Korea is a leader in e-government

English

This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error