The suicide rate of Korea has been ranked at the top among OECD countries since 2004. Although Ministry of Health and Welfare announced the National Suicide Prevention Plan in 2004 and in 2008, they do not seem to stop the increasing trend of suicide. Based on the Durkeim's assumption that suicide is a social problem rather than a personal problem, this study aimed first to find the socioeconomic factors at the macro level that were associated with suicide using the OECD panel data as well as literature review and to suggest policy directions to reduce suicide rate in Korea. First, the magnitude of economy was positively related with suicide rate but the economic growth rate was negatively related with suicide rate. Since it is unlikely to continuously increase the economic growth rate, it is not a good solution to reduce suicide rate by increasing the economic growth rate. Instead, our society should rather shift the societal goal from monetary prosperity to a better quality of life. At the same time, social safety net that can buffer against the economic crisis should be strengthened. Second, society should pay more attention to the women's suicide rate which has increased faster than the men's suicide rate. Both macro-level policies such as the reduction of unemployment rate, work-family balance, and reduction of divorce rate and micro-level policies for community-based mental health services should be strengthened to reverse the increasing trend of women's suicide rate. Third, the suicide rate of the elderly has increased fastest since 1980's. Since the absolute magnitude of this age group is increasing rapidly, the increasing trend of suicide rate in this age group is likely to lead to further exacerbate the nation's suicide rate. Factors related to the increase of suicide rate of the elderly included high unemployment, high divorce rate, and low birth rate. To reduce suicides of the elderly, policies to enhance the economic independence and the social network of the elderly are called for. At the same time, effective mental health services such as community-based depression screening should be implemented. Fourth, low birth rate was related to high suicide rate in almost all the age and sex groups. This implies that the effect of social integration of high birth rate is strong in Korea. Current policy measures to overcome the low birth rate should therefore be continued and strengthened. Finally, legal and political supports for the comprehensive national suicide prevention plan with a special focus on the community-based mental health services are urgently needed.