A New OECD Report has observed that Korea should build on its
strong economy and well-educated workforce to meet the challenges of a
fast-ageing population and to tackle rising income
inequality.
Strengthening Social Cohesion in Korea, presented yesterday
in Seoul by OECD Secretary-General Angel Gurría, recognises the impressive
progress made by Korea over the past 40 years. The country is increasingly
integrated in the global economy and its per capita income is converging rapidly
to the OECD average.
Income inequality, however, has risen, together with
poverty, especially among older people. Korea’s birth rate is the lowest among
OECD countries and, on current trends, the country’s population profile will
shift from being one of the youngest in the OECD today to the second oldest by
2050.
“Korea must combine structural reforms to maintain its strong economy
with improved social policies to generate more inclusive and sustainable
growth,” said OECD Secretary-General Angel Gurría at the launch. “Giving more
children access to quality education and more family-friendly policies would
boost social cohesion and equity so that all Koreans can share the benefits of
growth. We are pleased that social cohesion is a priority for the new
administration.”
The
OECD identifies four priority areas for action:
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Reduce income inequality and poverty.
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Cut labour market dualism.
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Raise education standards for all.
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Improve health care.
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