OECD Pushing Ahead with Reform in Korea Labour Market and Social Safety-net Policies

Annotation

At the end of 1997, Korea was hit by a major financial and economic crisis, which resulted, among other things, in a huge rise in unemployment. The event caught the country's labour and social institutions unprepared, so that many workers and their families were hit hard. The economy has now turned the corner. This book shows that government labour and social policies, together with improved basic workers' rights, have helped minimise the costs of the crisis while also contributing to overcome it. However, this book also highlights the need for further actions in these areas in order to pave the way for a healthy, socially-sustainable economic performance and argues the case that the momentum of reform should not be slowed.