S. Korea to show fast economic recovery from COVID-19 recession: OECD Secretary-General in exclusive with Arirang News
- 4 years ago
OECD 사무총장, "한국은 빠른 코로나 대응으로 인해 더욱 빠른 경제 회복이 올 것"
As the COVID-19 outbreak continues to rage across the world,... the international community is facing an economic downturn not seen since the Great Depression of the 1930s.
Recovery is hard to predict but the Secretary-General of the Organisation for Economic Co-operation and Development told Arirang News in an exclusive interview that South Korea will see a much smaller economic fallout than others.
Oh Soo-young has the full story.
South Korea could become one of the first countries to bounce back from the COVID-19 recession.
That's according to the OECD's Secretary-General Angel Gurria, who said the Korean economy could get through the crisis relatively unscathed,... owing to its innovative measures to contain the pandemic.
"You were better prepared. That, uh, the measures were more effective, that Korea had equipped itself and was not only ready but had the necessary infrastructure. They did not have to improvise that. You also isolated the ones who had the contagion and then you even created new modalities of testing and then isolating like the drive thru method. For example, the telephone booth methods. So the world has a lot to learn from Korea and you can see there's no division between the economy and the war against the virus."
The Secretary-General also highlighted Korea's comprehensive measures designed to ease the pain of the economic fallout.
These include income and corporate tax reductions for small business owners and plans to distribute basic income to individual households.
Gurria warned that governments, businesses and households across the world face a mounting debt crisis,... unable to pay their bills or creditors due to the stunted cash flow.
He said developing countries will be especially hard hit.
"This is very important to make sure, instead of paying their creditors, they're focusing on the virus, focusing on the patients and focusing on their people. But after that, they will need to reinforce their structures and their wounds and then the scars will be even deeper and greater."
He called for global coordination on debt repayments and the sharing of innovative policies to help the world overcome this borderless pandemic.
Oh Soo-young, Arirang News.
As the COVID-19 outbreak continues to rage across the world,... the international community is facing an economic downturn not seen since the Great Depression of the 1930s.
Recovery is hard to predict but the Secretary-General of the Organisation for Economic Co-operation and Development told Arirang News in an exclusive interview that South Korea will see a much smaller economic fallout than others.
Oh Soo-young has the full story.
South Korea could become one of the first countries to bounce back from the COVID-19 recession.
That's according to the OECD's Secretary-General Angel Gurria, who said the Korean economy could get through the crisis relatively unscathed,... owing to its innovative measures to contain the pandemic.
"You were better prepared. That, uh, the measures were more effective, that Korea had equipped itself and was not only ready but had the necessary infrastructure. They did not have to improvise that. You also isolated the ones who had the contagion and then you even created new modalities of testing and then isolating like the drive thru method. For example, the telephone booth methods. So the world has a lot to learn from Korea and you can see there's no division between the economy and the war against the virus."
The Secretary-General also highlighted Korea's comprehensive measures designed to ease the pain of the economic fallout.
These include income and corporate tax reductions for small business owners and plans to distribute basic income to individual households.
Gurria warned that governments, businesses and households across the world face a mounting debt crisis,... unable to pay their bills or creditors due to the stunted cash flow.
He said developing countries will be especially hard hit.
"This is very important to make sure, instead of paying their creditors, they're focusing on the virus, focusing on the patients and focusing on their people. But after that, they will need to reinforce their structures and their wounds and then the scars will be even deeper and greater."
He called for global coordination on debt repayments and the sharing of innovative policies to help the world overcome this borderless pandemic.
Oh Soo-young, Arirang News.