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S. Korea Last in OECD Service Sector Productivity

Written: 2016-02-26 18:56:19Updated: 2016-02-26 19:07:17

S. Korea Last in OECD Service Sector Productivity

South Korea has the lowest service sector productivity compared to its manufacturing sector among the member nations of the Organization for Economic Cooperation and Development(OECD).
 
According to an OECD report assessing structural reform efforts by member states, the per capita labor productivity of South Korea's service sector was only 40 percent of that of manufacturing, the lowest among 26 OECD members.
 
In the report, the Paris-based organization said the comparative service sector productivity was especially low in South Korea.
 
The OECD said that for South Korea, "reducing regulatory barriers on competition and innovation in network industries, professional services and retail distribution remains a key priority for reform." It added that these areas were "dragging down the overall labor productivity." 
 

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