The 노르딕 모델 (Nordic Model) refers to the social and economic system found in the Nordic countries, including Sweden, Denmark, Norway, Finland, and Iceland. This model combines a comprehensive welfare state with a capitalist economy, aiming to provide high levels of social security and equality. It emphasizes universal access to services like healthcare and education, funded through high taxes. In the Nordic Model, labor markets are characterized by strong unions and collective bargaining, which help ensure fair wages and working conditions. This system promotes both economic competitiveness and social cohesion, contributing to high standards of living and low levels of poverty in the region.