The Labour Market in Korea [E-Book]: Enhancing Flexibility and Raising Participation / Randall Jones
This paper analyses the increasing dualism in the Korean labour market and the need to encourage greater labour force participation. Although the rising proportion of non-regular workers lowers labour costs and increases employment flexibility, it has a negative impact on both equity and efficiency...
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Full text |
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Personal Name(s): | Jones, Randall. |
Imprint: |
Paris :
OECD Publishing,
2005
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Physical Description: |
22 p. ; 21 x 29.7cm. |
Note: |
englisch |
DOI: |
10.1787/548701741108 |
Series Title: |
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OECD Economics Department Working Papers ;
469 |
Keywords: |
Economics Korea, Republic of |
This paper analyses the increasing dualism in the Korean labour market and the need to encourage greater labour force participation. Although the rising proportion of non-regular workers lowers labour costs and increases employment flexibility, it has a negative impact on both equity and efficiency over the long term. Relaxing employment protection for regular workers and increasing the coverage of the social safety net for non-regular workers would help limit the extent of dualism. Population ageing is projected to be exceptionally rapid in Korea, leading to a significant decline in the workforce by mid-century. Steps to boost the participation of women through family-friendly policies are a priority. It is also important to encourage employees to stay at firms beyond the age of 50. Making the wage system more dependent on productivity and less on seniority and implementing a company pension system in place of the retirement allowance would help maintain the employment of older persons. This Working Paper relates to the 2005 OECD Economic Survey of Korea (www.oecd.org/eco/surveys/korea). |