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Labor market policy and the social safety net in Korea : After 1997 crisis

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Frame of Image or Market Flexibility 4: Industrial and Labor Relations 4-1: Developmentalism 4-2: Tripartite Commission: The Political Inclusion of Labor 4-3: Looking Ahead 5: Prospects and Conclusion 5-1: Unemployment outlook 5-2: Industrial and Labor Relations outlook 5-3: Needed Global Coordination
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This paper was prepared while the author was a visiting fellow at the Brooking Institution from September 1998 to June 1999.
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1. Introduction Until November 1997, the Republic of Korea was widely regarded as one of the biggest success stories among developing countries. Since the financial crisis of November 1997, the economy has experienced a sharp downturn. A recent government report estimated that Korea’s per capita GDP fell to $6,823 in 1998 from $10,307 in 1997, retreating back to the level of eight years ago. Real wages are expected to decline for the first time in almost 20 years. The main purpose of this paper is to examine the following three questions. First, what have been happening in Korean labor market and industrial and labor relations since the 1997 financial crisis? Second, what have been the major government policies to cope with these new developments, such as rising unemployment and labor disputes. Third, have those policies been effective? Are any supplementary policies needed or is a fundamental shift required? I will examine these issues in turn and make some alternative policy recommendations and conclude by discussing the outlook for labor issues in Korea. 2. Rising


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Title Labor market policy and the social safety net in Korea
Similar Titles
Sub Title

After 1997 crisis

Material Type Reports
Author(English)

Park, Se-Il

Publisher

[Seoul]:KDI School of Public Policy Management

Date 1999
Series Title; No Working paper series / 99-01
Pages 44
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Social Development < Employment
Holding KDI School of Public Policy Management