Huge uncertainty surrounds global economic prospects and hence the outlook for exports, which are a key engine of the Korean economy… The Outlook puts forward a consistent set of projections for output, employment, prices, fiscal and current account balances. South Korea is the only country among the OECD members to receive an improved outlook. This document sets out when Korea joined the OECD, what its permanent delegation does, and the benefits of OECD membership. real estate infrastructure In its latest Korea Economic Report, the Paris-based club of major economies predicted Asia’s fourth-largest economy will contract 0.8% in 2020 from a year earlier. The second-best performer is Turkey, which is expected to shrink 4.8%. The latest OECD forecast for South Korea is bleaker than the predicted 0.2% contraction by the Bank of Korea. The OECD Economic Outlook is the OECD's twice-yearly analysis of the major economic trends and prospects for the next two years. "A recovery is now under way following the easing of strict confinement measures and the re-opening of businesses, but uncertainty remains high and confidence is still fragile," said the report. For further details >, Dr. Kim Joon Hyung, Chancellor of KNDA, on US Presidential Election, How U.S. Presidential Election may Influence Korea’s Trade Environment, Sohn Mina, Former KBS Announcer and Best-Selling Writer, Daily COVID-19 Increase Remains Below 100 for 5th-Straight Day, S. Korea to Impose Face Mask Fine from November 13, Kim Jong-un Wishes Trump Quick Recovery from COVID-19, S. Korea Reports 54 Additional COVID-19 Infections, S. Korea's Trade Minister One of 2 Finalists for WTO Chief, Gov't to Announce Adjustments to Level 2 Distancing on Sunday, Fierce Competition to Take Leadership in Global EV Battery Market, Fans plant trees celebrating BTS leader RM’s birthday. Economic activity has contracted less in Korea than in other OECD countries, thanks to the prompt and effective reaction of the authorities to contain the spread of the COVID-19 virus and to the wide-ranging government support to households and businesses. OECD Home Economy Korea Economic Snapshot. The OECD Better Life Initiative, launched in 2011, focuses on the aspects of life that matter to people and that shape the quality of their lives. This website is sponsored by the Korea Communications Commission. The Web site is optimized for viewing in Chrome, Safari, Firefox and Internet Explorer 11 and higher versions. Presidential Secretary for Economic Affairs Lee Ho-seung gave a briefing on the growth outlook of OECD member states in the post-coronavirus era. This site is powered by Keepeek 360, Logiciel de classement Photos Professionnel for business. Economic Outlook No 100 - November 2016. The major functions of the OECD/Korea Policy Centre are to research international standards and policies on international taxation, competition, public governance, and social policy sectors in OECD member economies and to disseminate research outcomes to public officials and experts in the Asian region. The OECD Economic Outlook is the OECD's twice-yearly analysis of the major economic trends and prospects for the next two years. Enhancing equal access to opportunities for all in G20 countries. December 2016 marks Korea’s 20th anniversary of OECD membership. Organisation for Economic, Korea: Keep supporting people and the economy until recovery fully under way, Revenue Statistics in Asian and Pacific Economies: Key findings for Korea. OECD Economic Outlook No 91 to 100. This country snapshot presents selected findings for Korea from the OECD Better Life Index 2016, the How’s Life? private equity Economic Survey of Greece 2020. Home to world famous brands, from cars to smartphones, K-pop and fashion, Korea’s transformation has been dubbed “the Miracle on the Han River”. The organization also warned of low labor productivity and how many workers’ lack of work-life balance could work against the local economy. Organisation for Economic Co-operation and Development (OECD), © Yet, the OECD said Korea needs to maintain a soft monetary policy to shore up the economy and keep close tabs on the hot property market, warning against excess liquidity flows into the real estate sector. asset owner OECD Economic Outlook, Interim Report September 2020 Global outlook less pessimistic, but risks and uncertainty remain high After collapsing in the first half of the year, economic output recovered swiftly following the easing of measures to contain the COVID-19 … Economic Outlook No 99 - June 2016. energy We would like to inform you that Korean Investors will be integrated into our new site: The Korea Economic Daily Global Edition on Oct. 12.You will automatically be transferred to the new site. In late May, the central bank slashed its policy rate by a quarter percentage point to a record low of 0.5% in a bid to cushion the economic impact of the COVID-19 pandemic.