Investing In Youth Korea

The series Investing in Youth builds on the expertise of the OECD on youth employment, social support and skills. The report on Korea presents new results from a comprehensive analysis of the situation of young people in Korea, exploiting various sources of survey-based and administrative data.

The series Investing in Youth builds on the expertise of the OECD on youth employment, social support and skills. It covers both OECD countries and key emerging economies. The report on Korea presents new results from a comprehensive analysis of the situation of young people in Korea, exploiting various sources of survey-based and administrative data. It provides a detailed assessment of education, employment and social policies in Korea from an international perspective, and offers tailored recommendations to help improve the school-to-work transition. Earlier reviews in the same series have looked at youth policies in Brazil (2014), Latvia and Tunisia (2015), Australia, Lithuania and Sweden (2016), Japan (2017), Norway (2018), and Finland and Peru (2019).

The series Investing in Youth builds on the expertise of the OECD on youth employment, social support and skills. It covers both OECD countries and key emerging economies. The report on Korea presents new results from a comprehensive analysis of the situation of young people in Korea, exploiting various sources of survey-based and administrative data. It provides a detailed assessment of education, employment and social policies in Korea from an international perspective, and offers tailored recommendations to help improve the school-to-work transition. Earlier reviews in the same series have looked at youth policies in Brazil (2014), Latvia and Tunisia (2015), Australia, Lithuania and Sweden (2016), Japan (2017), Norway (2018), and Finland and Peru (2019).

This report provides a detailed diagnosis of youth policies in the area of education, training, social and employment policies. Its main focus is on disengaged or at-risk of disengaged youth.

In recent years Korea has stepped up efforts to reduce inequalities in recognition that a fairer economic model is also the most sustainable one. In order to support this new policy direction, the OECD has carried out novel analysis of inclusive growth building on its Framework for Policy Action, developed by the OECD to improve the prospects of the groups left behind.

About one in ten young people in Australia are neither in employment, education or training (NEET), a factor that may lower their long-term economic prospects and threaten their well-being. Individuals who did not graduate from upper secondary education, who have health limitations, or who are Indigenous are over-represented in this group.

Sound health management and supportive policies helped Korea emerge swiftly from the pandemic. The recovery is set to continue as pandemic-era restrictions on contact-intensive services are shelved, despite the Russia-Ukraine war raising inflation and highlighting the need to increase supply chain resilience.

Korean families are changing fast. While birth rates remain low, Koreans are marrying and starting a family later than ever before, if at all. Couple-with-children households, the dominant household type in Korea until recently, will soon make up fewer than one quarter of all households. These changes will have a profound effect on Korea’s future. Among other things, the Korean labour force is set to decline by about 2.5 million workers by 2040, with potential major implications for economic performance and the sustainability of public finances.