Strategies for Reforming Korea’s Labor Market to Foster Growth

ByMai Dao, Davide Furceri, Tae-Jeong Kim, Meeyeon Kim, Jisoo Hwang

July 25, 2014

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

While the Korean unemployment rates are currently among the lowest in OECD countries, the labor market duality and the underemployment in some segments of the population are important labor market challenges, and factors contributing to lower potential growth. The paper shows the benefits of comprehensive policy reforms aimed at increasing labor force participation and youth employment and reducing duality are likely to be considerable in the medium term.

Subject: Employment, Gender, Gender diversity, Labor, Labor force participation, Labor markets, Women

Keywords: Employment, female labor force participations, Gender diversity, Labor force participation, labor market, labor market dualism, labor market duality, labor market market segmentation, Labor markets, percent, reforms, Women, worker, WP, youth employment, youth employment rate, youth participation rate

Pages:
20
Volume:
2014
DOI:
https://doi.org/10.5089/9781498337151.001
Issue:
137
Series:
Working Paper No. 2014/137
Stock No:
WPIEA2014137
ISBN:
9781498337151
ISSN:
1018-5941

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