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[발제] "Korea's 20 Years After its Accession to the OECD: Its Economic Growth and Challenges" / Randall S, Jones 4
Korea's per capita income is converging rapidly to the leading countries 5
Korea's economic growht rate is converging to the OECD average 6
Presentation outline-1. Challenges facing Korea's traditional growth model 6
Korea's labour productivity is only around 50% of the top half of OECD countries 7
Productivity in services is low in Korea 7
The number of non-viable SMEs is increasing 8
Korea's export performance has levelled off 8
Korea's labour inputs are exceptionally large 9
Working hours are long in Korea for both men and women 9
Population ageing in Korea will be the fastest in the OECD 10
Presentation ouline-2. Policies to sustain growth 10
Korea has the highest R&D intensity in the OECD area 11
The skill level of youth in Korea is very high 12
Policies to raise prouctivity-get more out of the investment in innovation by 12
Reduce product market regulation, which is among the mast stringent in the OECD 13
Improve the image of entrepreneurship to promote firm creation 13
Upgrade the innovation system by increasing R&D links between different sources of research 14
Enhance international openness by increasing inflows of FDI 14
Reduce government guarantees for loans to SMEs 15
Make greater use of venture capital investment 15
The gender gap in employment rate is one of the highest in the OECD 16
The labour force is projected to shrink 16
Women are concentrated in low-paying non-regular jobs 17
The share of women in management is the lowest in the OECD 17
The gender wage gap in Korea is the largest in the OECD 18
Policies to raise the employment of women 18
Presentation ouline-3. Enhancing social cohesiveness 19
The relative poverty rate in Korea is the 7th highest in the OECD 19
Wage inequality is high in korea 20
Non-regular workers earn less than two-thirds as much as regular workers 20
Non-regular workers have lower income 21
The poverty rate is much higher among non-regular workers 21
Education spending is lower in non-regular households 22
The impact of the social safety net on income inequality and relative poverty is weak 22
Public social spending in Korea is low 23
Korea's level of gross government debt is also relatively low 23
Tax revenus is also low, but will have to rise to finance rising social spending 24
The tax burden is low relative to other OECD countries, but is rising 24
The value-added tax rate in the Korea is one of the lowest in the OCED area 25