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Reforming the Labour Market - OECD Economic Surveys: Korea 2004

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  • Reforming the Labour Market - OECD Economic Surveys: Korea 2004
  • OECD
  • Organization for Economic Cooperation and Development (OECD)


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Title Reforming the Labour Market - OECD Economic Surveys: Korea 2004
Similar Titles
Material Type Others
Author(English)

OECD

Publisher

Organization for Economic Cooperation and Development (OECD)

Date 2004
Language English
File Type Link
Subject Social Development < Employment

Abstract

The labour market has moved near the top of the policy agenda in Korea. Although there have been profound changes following the democratisation of the country in 1987 and the financial crisis in 1997, it is clear that the current labour market framework is not appropriate, given the large and growing role of hightechnology industries and Korea’s increasing integration with the world economy. The government’s most immediate concern is sluggish job creation and the relatively high unemployment rate for young adults. The reluctance of firms to hire is linked to a lack of labour market flexibility, resulting from strict employment protection for regular workers. The strong opposition of workers...