Anchor: The Organization for Economic Cooperation and Development(OECD) recently revised up its 2020 growth forecast for South Korea to minus point-eight percent, the most optimistic forecast among the OECD's 37 member nations. The organization's chief recently spoke to KBS, where he cited South Korea's "effective quarantine" as the key behind its growth momentum.
Choi You Sun reports.

Report: The 37-member Organization for Economic Cooperation and Development(OECD) took note of recovering trends in spending and investments in South Korea, when raising its growth outlook for the country this year.

Speaking to KBS, Angel Gurria, the Secretary-General of the Paris-based organization, highlighted the fact that the trade-dependent South Korean economy is doing relatively well, despite a slowdown in global trade.

[Sound bite: Angel Gurria, OECD Secretary-General]
"The rest of the world is going to grow at minus six percent and we are looking at the Korean economy growing at only minus zero-point-eight. So that means that you're doing much better than the rest of the world."

Gurria particularly mentioned Seoul's effective quarantine as a major contributing factor to maintaining the country's growth momentum.

[Sound bite: Angel Gurria, OECD Secretary-General]
"The strength has been precisely, the very efficient way of dealing with the pandemic and early, timely and forceful, strong response."
"Korea was simply better prepared because (health care) was stronger, more resilient, and because also the Korean people are more disciplined and that has made a big difference."

Looking ahead, the OECD chief said development in the high-tech sector and innovation would be key for the future of Asia's fourth-largest economy.

[Sound bite: Angel Gurria, OECD Secretary-General]
"We're forecasting that exceptionally, quite exceptionally because this only applies to very few countries in the world, that Korea's economy will be at a better level at the end of 2021 than at the end of 2020. One of the reasons is because you're very much focused on high-tech and high-tech is an area which has been growing, which every time is more necessary because of the situation of the pandemic and because of the confinement."

In its recent report, the OECD, however, recommended that the South Korean government focus on policies aimed at supporting low-income households and jobseekers, and investing in various technological development in times of negative growth.
Choi You Sun, KBS World Radio News.