Korea’s moving on class offers extreme demands, perhaps not the very least money for hard times of the Korean economy. OECD projections advise that, to your newest style, the complete measurements of the latest Korean labor force is decided so you’re able to refuse because of the regarding 2.5 billion experts along side 2nd couple of , in order to a projected twenty-five.0 billion in the 2040 (Profile 2.7). This may features major implications to own financial show. The blend regarding a shrinking labour push and you will an ageing society will also place significant stress towards social funds, as the interest in bodies paying for healthcare and you will retirement benefits increases while the offered employees refuses.
not, luckily that, within the highly knowledgeable feminine society, Korea has a skilled and you can already lower than-utilized set-aside out-of labour. OECD projections suggest new requested reduction in how big the Korea labour push across the 2nd couple of many years would be more offset because of the improving ladies’ labour force contribution towards section where it suits men’s contribution by 2040 (Shape dos.7).