OECD Archives | Be Korea-savvy
South Korea’s Traffic Death Rate Still High Among OECD Members

South Korea’s Traffic Death Rate Still High Among OECD Members

SEJONG, Oct. 2 (Korea Bizwire) – South Korea’s traffic-related deaths have been on a steady decline but still remained at the top level among member countries of the Organization for Economic Cooperation and Development (OECD), government data showed Monday. Based on OECD criteria, the country’s death rates from traffic accidents per 100,000 inhabitants reached 10 [...]

South Korea’s ICT Reliance Twice OECD Average

South Korea’s ICT Reliance Twice OECD Average

SEOUL, Sept. 13 (Korea Bizwire) – South Korea’s dependency on the information and communication technology (ICT) industry for its output is nearly twice the average for major industrialized economies, a report said Wednesday. South Korea’s ICT sector accounts for 10.7 percent of the country’s gross value added, or the value of goods and services produced [...]

South Korea 32nd out of 35 OECD Countries on Family Spending

South Korea 32nd out of 35 OECD Countries on Family Spending

SEOUL, Sept. 11 (Yonhap) — South Korea was one of the smallest investors in families among member states of the Organization for Economic Cooperation and Development (OECD) in 2013, a report showed Monday. The country allocated 1.13 percent of its gross domestic product (GDP) to family benefits spending, and therefore ranks 32nd among 35 OECD [...]

S. Korea’s Growth Ranking Among OECD Drops 10 Spots

S. Korea’s Growth Ranking Among OECD Drops 10 Spots

SEOUL, Sept. 5 (Korea Bizwire) — South Korea’s economic growth ranking among major advanced and emerging economies plunged 10 spots in the second quarter from three months earlier as its recovery lost ground, data showed Tuesday. Asia’s fourth-largest economy expanded 0.6 percent on-quarter in the April-June period, compared with a 1.1 percent expansion for the [...]

Research Shows Family Background Linked to Educational Success

Research Shows Family Background Linked to Educational Success

SEOUL, Aug. 24 (Korea Bizwire) — The Korea Economic Research Institute held a seminar on August 23 regarding social mobility and education, where Professor Lee Joo Ho of the Korea Development Institute presented his findings on the correlation between children’s school grades and a family’s economic, social and cultural standing (ESCS). His research was based [...]

S. Koreans Working Second-longest Hours among OECD Members: Data

S. Koreans Working Second-longest Hours among OECD Members: Data

SEOUL, Aug. 16 (Korea Bizwire) — South Korea has the second-longest average work hours per person, but its wage levels fall under the median among member states of the Organization for Economic Cooperation and Development (OECD), data showed Wednesday. The OECD Employment Outlook 2017, an annual report, said an average South Korean worked 2,069 hours [...]

Ageing Population to Reshape South Korean Industry, Report Says

Ageing Population to Reshape South Korean Industry, Report Says

SEOUL, Aug. 3 (Korea Bizwire) — A new report has claimed South Korea’s ageing population will reshape the landscape of the country’s industry. The report from the Bank of Korea (BOK) released on Wednesday discusses the relationship between an ageing population and industrial structure, welfare and the healthcare service industry. In the report, Kang Jong-gu, the [...]

South Korea Has Lowest Out-of-Wedlock Birth Rate Among OECD Countries

South Korea Has Lowest Out-of-Wedlock Birth Rate Among OECD Countries

SEOUL, July 10 (Korea Bizwire) – According to data released by the OECD and the Bank of Korea, South Korea has the lowest out-of-wedlock birth rate among OECD member countries. The findings, which should not come as a surprise to those who know South Korea well, are in line with the country’s anemic birth rate [...]