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Digitalisation An Enabling Force for the Next Production Revolution in Korea (Korean version)

Author: Organisation for Economic Co-operation and Development.
Publisher: Paris : OECD Publishing, 2017.
Edition/Format:   eBook : Document : International government publication : Korean
Summary:
Since joining the OECD in 1996, Korea has made impressive progress in raising living standards. Over 1996-2016, the country closed the gross domestic product (GDP) per capita gap with the OECD average by 26 percentage points. Vibrant exports underpinned strong economic growth, with Korea becoming the eighth largest exporter in the world. The country's focus on innovation (its R & D spending is the second highest in  Read more...
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Details

Material Type: Document, Government publication, International government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Organisation for Economic Co-operation and Development.
ISBN: 9789264285552 9264285555
OCLC Number: 1012827497
Description: 1 online resource (28 pages)
Responsibility: Organisation for Economic Co-operation and Development.

Abstract:

Since joining the OECD in 1996, Korea has made impressive progress in raising living standards. Over 1996-2016, the country closed the gross domestic product (GDP) per capita gap with the OECD average by 26 percentage points. Vibrant exports underpinned strong economic growth, with Korea becoming the eighth largest exporter in the world. The country's focus on innovation (its R & D spending is the second highest in the OECD) combined with its highly skilled population (it is among the top performers in the OECD's Programme of International Student Assessment) supported this success. However, the convergence of Korea's living standards to those in the most advanced countries has stalled in recent years. Output growth has slowed from 4.4% annually over 2001-10 to 2.8% since 2011. The country faces strong competition from emerging economies, notably the People's Republic of China in low- and medium-end markets, and with advanced economies in high-end markets. This makes it more difficult for Korea to further expand its global market share.

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