Boosting Productivity in Korea's Service Sector

Randall S. Jonesi iOECD

Organisation for Economic Co-operation and Development

关键词: Business service;    competition policy;    KFTC;    FTAs;    productivity and growth;    services trade;    regulatory reforms;    Korea;    financial services;    telecommunications;    legal services;    foreign direct investment;    small and medium-sized enterprises;    service sector;   

DOI  :  https://doi.org/10.1787/226625875038

学科分类：社会科学、人文和艺术（综合）

来源: OECD iLibrary

【 摘 要 】

Labour productivity growth in the service sector has been low relative to manufacturing. This is explained in part by weak competition in services resulting from strict product market regulation and the low level of import penetration and inflows of foreign direct investment (FDI). Increasing productivity growth in the service sector, which accounts for 67% of employment and 58% of value added in Korea, is essential to sustain high potential growth. The priority is to strengthen competition by eliminating domestic entry barriers, accelerating regulatory reform, upgrading competition policy and reducing barriers to trade and inflows of FDI. Another challenge is to enhance the performance and accelerate the restructuring of small and medium-sized enterprises, which account for over 90% of service-sector employment. Furthermore, it is essential to boost productivity in service industries with high growth potential, such as telecommunications and financial and business.