OECD calls for tax overhaul as Korea ages

South Korea should broaden its tax base and rely more on less distortive taxes to prepare for rising aging costs, the Organization for Economic Cooperation and Development said Thursday, warning that demographic pressures are set to strain public finances even as economic growth recovers.

"Rapidly increasing aging-related spending pressures require new sources of government revenue," the Paris-based organization said in an executive summary of its 2026 Economic Survey of Korea.

"At the same time ...