OECD calls for tax overhaul as Korea ages

South Korea needs stronger fiscal rules, a broader tax base and deeper structural reforms to prevent rapid aging from pushing public debt onto an unsustainable path, the Organization for Economic Cooperation and Development said Thursday. "Without action, the cost of aging will put debt onto an unsustainable path," Douglas Sutherland, head of country studies in the OECD Economics Department, said at a press briefing in Sejong. "This is not our projection — it reveals the risks of aging pressures