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Economic Survey of Korea Presentation: Randall Jones, OECD Senior Economist Discussant: Christine McDaniel, US Department of the Treasury

Event Description:

Randall Jones, Head of the Japan/Korea Desk of the OECD Economics Department, presents the findings of the OECD Economic Survey: Korea, 2007. The Survey provides a comprehensive view of the world’s 11th largest economy as it considers the recently-signed Korea-US Free Trade Agreement (KORUS FTA).

While Korea remains one of the fastest-growing economies in the OECD area, the Economic Survey points out a number of challenges, including population aging, which is projected to be the most rapid among OECD countries. Moreover, Korea remains relatively closed to the world economy, which makes the KORUS FTA important for its economic prospects.

In his presentation, Mr. Jones will touch on a number of issues, including:

• How can Korea remain its economic dynamism in the face of rapid population aging and the need to increase social security-related spending?
• How can Korea maintain its high growth rate in order to bring its standard of living closer in line with the US?
• How can Korea benefit more fully from integration in the world economy?

Christine McDaniel, Deputy Assistant Secretary, U.S. Department of the Treasury, will provide comments following the presentation.

Biographies:

Randall Jones is currently Head of the Japan/Korea Desk of the OECD Economics Department. During his 14 years at the OECD, he has helped write six Economic Surveys of Japan and eight Economic Surveys of Korea, in addition to working on several European countries. He has published extensively while at the OECD, including works on economic and financial restructuring in Asia. Prior to joining the OECD, he worked as a staff economist at the US Council of Economic Advisers, as Senior Economist at the Japan Economic Institute and at the US State Department. Mr. Jones holds a PhD from the University of Michigan.

Christine McDaniel is Deputy Assistant Secretary, Office of Economic Policy at the US Department of the Treasury. Prior to joining Treasury, she was the senior economist for international trade at the White House Council of Economic Advisers from July 2005 to March 2007 and provided advice on national and international economic policy, including international trade and investment, immigration and development. She has also worked as an international economist for the U.S. International Trade Commission, the U.S. Department of Commerce, and the Office of the U.S. Trade Representative.