Chapter 1. Introduction (Richard B. Freeman/Sunwoong Kim) 1 Chapter 2. Historical Background - Before and After the Financial Crisis - (Jaeho Keum) 7 1.Labor Market Conditions and Trends 7 2.Wages and Working Hours 25 3.Challenges in the Labor Market 30 Chapter 3. The Challenge of Rapid Ageing and Low Fertility in Korea (Sunwoong Kim) 35 1.Introduction 35 2.Challenges Ahead 37 3.Socio-economic Iissues Related to Rapid Aging 42 4.Agenda for Policy Intervention 49 5.Summary 61 Chapter 4. Inequality, Polarization, and Social Unrest (Donggyun Shin) 65 1.Background 65 2.Conceptual and Measurement Issues 69 3.Evolution of the Income Distribution: Rising Inequality or Bipolarization 75 4.Characteristics of Bipolarization of the Income Distribution 81 5.Economic and Social Consequences of Bipolarization 87 6. Summary and Policy Implications 93 Chapter 5. Assessing Dualism and Institutional Insecurity in the Korean Labor Market (Joonmo Cho) 99 1.Introduction 99 2.Flexibility and Dualism in Korean Labor Market 100 3.Dualistic Recovery from the 1998 Financial Crisis 105 4.Institutional Insecurity in Korean Labor Market 115 5.Conclusion 126 Chapter 6. Labor Supply and Quantitative Disequilibrium : Focus on Female Employment (Hye-Won Kim) 131 1.Introduction 131 2.Female Employment Structure 132 3.Wage Gap between Genders 137 4.Changes in the Female Labor Supply 143 5.Conclusion: Prospects of Female Employment Policy in Korea 152 Chapter 7. Qualitative Disequilibrium in the Labor Market and Policy Tasks (Jooseop Kim) 157 1.Introduction 157 2.Job Changes and Worker Shortage by Occupation 161 3.Overeducation: Status and Impact on the Labor Market 167 4.Conclusion and Policy Implications 175 Chapter 8. Is Korean Manufacturing Industry Still the Source of Job Creation? (Sung Teak Kim) 181 1.Introduction 181 2.Challenges in the Manufacturing Industry 182 3.Current Status of the Manufacturing Industry and Its Employment 187 4.Conclusion 201 Chapter 9. Will Tertiarization Create Better Jobs? (Jai-Joon Hur) 207 1.Introduction 207 2.Tertiarization of Employment 209 3.Trends of Tertiarization in Production 217 4.Characteristics of Tertiarization in Korea 222 5.Summary and Policy Implications 229 Chapter 10. Employment and Earnings in the Self-employment Sector (Jaewoo Ryoo) 235 1.Introduction 235 2.Existing Literature 236 3.Characteristics of Self-employment 238 4.Income Opportunity and Selection into the Self-employment Sector 249 5.Conclusion 256 Chapter 11. Non-standard Employment (Ki Seong Park) 261 1.Introduction 261 2.Definition and Scale of Non-standard Workers 261 3.Wage Function and Probability of Non-standard Workers 264 4.Cause of Recent Increase of Non-standard Workers 273 5.Policy Suggestions 273 Chapter 12. Conlcusion (Richard B. Freeman/Sunwoong Kim) 279