Korea in the OECD Family

Korea in the OECD Family

- Speaker: Donald Johnston, Secretary-General, OECD

- Date: May 30, 2003.

"The labor market is one of the major factors that discourages investment in Korea. Flexible labor markets are essential in a country with rapid structural change, such as Korea. Employment protection legislation in Korea is the second highest in the OECD. But employment flexibility can be enhanced by the growing use of non-regular workers. Korea does have a relatively high degree of wage flexibility, but more work has to be done in this area...”