This Survey is published on the responsibility of the Economic and Development Review Committee (EDRC) of the OECD, which is charged with the examination of the economic situation of member countries.The economic situation and policies of Korea were reviewed by the Committee on 17 March 2014. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 18 April 2014.The Secretariat’s draft report was prepared for the Committee by Randall S. Jones, Myungkyoo Kim and Satoshi Urasawa under the supervision of Vincent Koen. Research assistance was provided by Lutécia Daniel.The previous Survey of Korea was issued in April 2012.