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22대 대한민국 국회 국회정보길라잡이 국회의원검색
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Title page 1

Contents 2

KEY TAKEAWAYS 1

INTRODUCTION 2

DIAGNOSING SOUTH KOREA'S PRODUCTIVITY GAP: THE TWO-SPEED ECONOMY 5

WHY SOUTH KOREA'S MODEL IS STUCK: STRUCTURAL AND POLICY BARRIERS 17

SOUTH KOREA NEEDS A NEW ECONOMIC PLAYBOOK 26

CONCLUSION: TOWARD A PRODUCTIVITY-LED GROWTH MODEL 31

ACKNOWLEDGMENTS 32

ENDNOTES 33

Figures 6

Figure 1. Value added per employee in SMEs relative to large firms 6

Figure 2. Value added per employee in OECD SMEs relative to large firms, 2020 7

Figure 3. Manufacturing labor productivity in SMEs relative to large enterprises 8

Figure 4. Service labor productivity in SMEs relative to large enterprises 9

Figure 5. Manufacturing vs. services productivity per employed person ($US PPP per worker) 10

Figure 6. Productivity change by industry, 2013-2023 11

Figure 7. Agriculture, forestry, and fishing productivity (gross value added per person, index, 2015 = 100) 11

Figure 8. Finance and insurance productivity (gross value added per person, 2015 = 100) 12

Figure 9. Services labor productivity (KRW millions) 13

Figure 10. South Korean services productivity growth 13

Figure 11. Multifactor productivity (index, 2015 = 100) 14

Figure 12. Sectors' share of employment 15

Figure 13. Retirement age 16

Figure 14. Central government programs to support SMEs 18

Figure 15. Regional government programs to support SMEs 19

Figure 16. Total programs supporting SMEs 19

Figure 17. Government-guaranteed loans to SME, 2021 (percentage of GDP) 20

Figure 18. South Korea vs. United States labor productivity (GDP per hour worked, PPP, 2020 prices) 23

Figure 19. Average odds of adopting advanced software or data-intensive technologies in large enterprises vs. small enterprises, 2013-2023 25

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