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Employment and productivity in Korea's service sector

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Frame of Image ext of rapid population aging, more participation of women into labor market, and intense competition with low-cost manufacturers in Asia, etc. GDP and Employment Shares of Service Sector in Korea
70% 60% 50% 40% 30% 1970 1975 1980 1985 1990 1995 GDP share 2000 2005
Employment share
Motivation
Tertiarization of the Korean Economy
Compared to manufacturing, service sector possesses quite different industrial characteristics in terms of capital intensity, employment structure, main type of innovation activity, etc. - Consequently, macro-economic landscapes in the service economy would be different from those in the manufacturing-centered era.
Industrial Characteristics: Manufacturing vs Services
Manufacturing Production Structure Employment Business cycle R&D Physical-capital intensive Employment-saving Sensitive to external shocks Technology-centered Services Human-capital intensive Employment-friendly Less sensitive to external shocks technology and non-technology
Motivation
Economic Growth
Does tertiarization serve as a major factor for the long-term economic slowdown?
Economic Stabilization
Will the expansion of the service sector contribute to stabilization of the domestic economy?
Employment Creation
Does service sector contain enough rooms for employment opportunity to make up for the on-going deindustrialization of employment?
Income Equality & Fiscal Discipline
As tertiarization proceeds, would the trade-offs among income equality, employment growth and budgetary restr


Full Text
Title Employment and productivity in Korea's service sector
Similar Titles
Material Type Proceedings
Author(English)

Lee, Siwook

Publisher

[Seoul]:KDI School of Public Policy and Management

Date 2013-03
Event

2013 KDIS-WB Forum on Employment-Centered Development Strategies

Pages 36
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < General
Social Development < Employment
Holding KDI School of Public Policy and Management