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Sustaining Growth in Korea by Reforming the Labour Market and Improving the Education System

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Author Info
Randall S. Jones
Masahiko Tsutsumi
Abstract

A well-functioning labour market is essential to sustain rapid economic growth in the face of population ageing. Priorities are to reverse the rising share of non-regular workers, which has negative implications for both growth and equity, and encourage greater employment of women and youth, who are under-represented in the labour force. Attracting more women to employment requires increasing the availability of childcare, strengthening maternity leave and creating more family-friendly workplaces. Youth employment rates should be boosted by upgrading tertiary education through stronger competition and closer links to enterprises to reduce mismatches. Educational reform should be extended to elementary and secondary schools to enhance efficiency and decrease the burden of private tutoring. The age of retirement of employees should be raised by eliminating mandatory retirement and phasing out the retirement allowance. Active labour market policies should focus on policies to expand human capital rather than wage subsidies.

Soutenir la croissance en Corée en réformant le marché du travail et en améliorant le système d'éducation
Un marché du travail performant est indispensable au maintien d’une croissance économique rapide face au vieillissement de la population. Les objectifs prioritaires consistent à inverser l’augmentation de la part des travailleurs non réguliers, qui a des conséquences négatives à la fois pour la croissance et pour l’équité, et d’encourager une progression de l’emploi des femmes et des jeunes, qui sont sous-représentés dans la population active. Pour attirer davantage de femmes dans l’emploi, il faut accroître l’offre de services d’accueil des enfants, améliorer la situation en matière de congés de maternité et faire en sorte qu’il y ait davantage de lieux de travail où les obligations familiales sont prises en compte. Les taux d’emploi des jeunes devraient être favorisés en améliorant l’enseignement tertiaire grâce à un renforcement de la concurrence et à un resserrement des liens avec les entreprises afin de réduire les inadéquations. La réforme de l’éducation devrait être étendue aux établissements élémentaires et secondaires de façon à améliorer l’efficience et à diminuer la charge représentée par les cours de soutien privés. L’âge de départ à la retraite des salariés devrait être relevé en éliminant la retraite obligatoire et en supprimant progressivement l’indemnité de retraite. Dans le cadre des politiques actives du marché du travail, il faudrait privilégier le renforcement du capital humain plutôt que le versement de subventions salariales.

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Paper provided by OECD, Economics Department in its series OECD Economics Department Working Papers with number 672.

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Date of creation: 20 Feb 2009
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Handle: RePEc:oec:ecoaaa:672-en

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Keywords: company pensions; dualism; education reform; employment protection; female employment; fertility rate; Korea; labour market; non-regular workers; older workers; participation rates; retirement allowance; seniority-based wages; activité des femmes; allocation de retraite; Corée; dualisme; emploi des jeunes; marché du travail; protection de l'emploi; réforme de l'éducation; rémunération basée sur l'ancienneté; retraites allouées par l'entreprise; taux d'activité; taux de fécondité; travailleurs âgés; travailleurs non réguliers;

Find related papers by JEL classification:
J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends and Forecasts
J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
J5 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining
J7 - Labor and Demographic Economics - - Labor Discrimination

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This page was last updated on 2009-11-23.

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