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Towards Better Social and Employment Security in Korea

image of Towards Better Social and Employment Security in Korea

This report on Korea is the fourth country study published in a series of reports looking into how policies connect people with jobs, following reports on Australia, Slovenia and the United Kingdom. It has a special focus on low-income groups, jobseekers and workers, and policies geared towards closing the considerable gaps these groups are facing around income and employment support. In the past forty years, Korea has gone through a remarkable economic transformation and in the past two decades, the country has also put in place a comprehensive social protection system and a strong activation framework. Nevertheless, features of Korea’s labour market, which include very low job tenure, a high degree of duality and a high level of informality, make it difficult for some measures to reach workers and jobseekers. This report concludes that significant additional action will be needed to make income and employment supports more effective and inclusive.

 

 

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Policy solutions for a broader and fairer safety net in Korea

This chapter discusses various policy solutions Korea can implement towards achieving more complete social protection coverage and better labour market outcomes. Drawing from the experiences of other OECD countries, Korea has managed to put in place an effective legislative framework with a strong focus on activation and employment. Nevertheless, various steps can be taken to broaden and improve Korea’s existing social protection measures. First, Korea can achieve considerable improvements through more rigorous enforcement of current policies and legislation. Second, Korea can enhance each of its existing social protection measures to further narrow down their remaining coverage gaps. Third, Korea should urgently introduce more far-reaching changes to support workers encountering temporary work incapacity due to poor health.

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