(Yonhap Interview) More productive, attractive regions outside Seoul key to sustaining growth: OECD officials

The Organization for Economic Cooperation and Development (OECD) officials have emphasized the importance of increasing productivity and attractiveness in regions outside of Seoul to maintain economic growth and tackle demographic issues in Korea. Lamia Kamal-Chaoui, the director of the Center for Entrepreneurship, SMEs, Regions, and Cities at the OECD, shared insights with the Yonhap News Agency about the organization's observations regarding the Korean situation.

Kamal-Chaoui highlighted that despite the heavy concentration of people and economic activity in Seoul, Korea's regional disparities in GDP per capita are among the smallest in the OECD. In fact, the capital region accounts for the largest share of the country's economy. She noted, "You have the largest concentration of the capital region across the OECD," emphasizing the unique nature of Korea's economic distribution.

The OECD director further explained that the success of Korea's economic growth has come with a level of regional disparities that is the lowest among the lowest in the OECD. This achievement, however, prompts a broader discussion beyond economic growth. It raises questions about whether the concentration of economic activity in Seoul is sustainable in the long run.