[Monitor] Korea’s shadow economy size bigger than OECD peers

The size of South Korea’s underground economy is equivalent to 10 percent of the nation’s gross domestic product, a research paper said Monday. Professor Kim Jong-hee of Chonbuk National University said the scale of the shadow economy in South Korea, at an average of 10.89 percent, far exceeds the average of 6.65 percent for G7 countries, as well as the 8.06 percent for 18 other member states of the Organization for Economic Cooperation and Development.