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Policy Reference
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Localization of the Business Management of Korean Foreign Investment Enterprises(FIE's) in China
Localization of the business management of Korean foreign investment enterprises(FIE's) in China is becoming one of the key success factors for their good economic performances. They are just beginning to execute the localization ..
Gwan-Ho Paik et al. Date 2002.12.30
Business managementDownloadContentSummaryLocalization of the business management of Korean foreign investment enterprises(FIE's) in China is becoming one of the key success factors for their good economic performances. They are just beginning to execute the localization of their business management, especially after experiencing the excessive labor dispute in the middle of 1990's. For this research, 38 Korean FIE's have been surveyed and more than 1,000 Chinese employees of Korean FIE's interviewed for a month, July in 2001. (The rest is omitted.) -
Industrial Development and Trade patterns in Southeast Asia
Southeast Asian countries have achieved remarkable economic growth since the mid 1980s by applying new development strategies that include actively hosting foreign direct investment(FDI) through trade liberalization. As outward-o..
Yul Kwon et al. Date 2002.12.30
Trade structure, Industrial structureDownloadContentSummarySoutheast Asian countries have achieved remarkable economic growth since the mid 1980s by applying new development strategies that include actively hosting foreign direct investment(FDI) through trade liberalization. As outward-oriented growth strategies became regularized in this process, each country experienced significant structural changes in terms of industrial development and trade patterns. In the wake of liberalization of capital transfer under the globalized production mechanism and rapid value appreciation of the Deutsche Mark and Japanese Yen, these elements have played a major role for allowing industrial development and structural changes to occur in the Southeast Asia region, which have risen as production strongholds of Japanese corporations. (The rest is omitted.) -
The DDA Negotiations on Non-Agricultural Market Access and Their Impact on International Tariff Systems
The DDA Negotiations on Non-Agricultural Market Access and Their Impact on International Tariff SystemsNakgyoon Choi and Jaeho CheungA review of the DDA negotiations on non-agricultural market access in 2002 reveals that there are..
Nakgyoon Choi et al. Date 2002.12.30
Tariffs, Multilateral negotiationsDownloadContentSummaryThe DDA Negotiations on Non-Agricultural Market Access and Their Impact on International Tariff Systems
Nakgyoon Choi and Jaeho Cheung
A review of the DDA negotiations on non-agricultural market access in 2002 reveals that there are three groups of contentious issues for future discussions. The first group includes issues related to the question of how to cut tariffs and eliminate/reduce the high tariffs and tariff escalation systems. The second group includes issues related to the following technical aspects: (i) introduction of the procedures for converting non-ad valorem tariffs to ad valorem tariffs, (ii) the base rates and base year for tariff reduction, (iii) special and differential treatment (S&DT) of the least developed countries, (iv) scope of the environment goods. And, the third group of issues deals with the problem of defining non-tariff barriers and determining the scope of the negotiations. (The rest is omitted.) -
Possible Scenarios for North Korea's Financial Reform Based on the Experience of Transition Countries
Possible Scenarios for Financial Reform in North Korea Based on the Experiences of Transition CountriesDeok Ryong YoonㆍHyung Gon JungㆍYoung Sook NamWith the collapse of its economy in the 1990s, the North Korean government was u..
Deok Ryong Yoon et al. Date 2002.12.30
North Korean economyDownloadContentSummaryPossible Scenarios for Financial Reform in North Korea Based on the Experiences of Transition Countries
Deok Ryong YoonㆍHyung Gon JungㆍYoung Sook Nam
With the collapse of its economy in the 1990s, the North Korean government was unable to sustain its traditional rationing system. North Korean people had to rely on themselves for food and necessities. Under this situation, the role of government planning has diminished, while the private sector has expanded. This change has induced marketization and monetization from the bottom. Monetary transactions have become increasingly important in the North Korean economy. Now market mechanisms serve as de facto substitutes for parts of the planning mechanism in the North. A well functioning financial sector is indispensable for the maintenance of market mechanisms. Even though the private sector and market mechanisms have been expanding, the lack of a financial sector imposes limits to the country's economic improvement and increases its macroeconomic instability. (The rest is omitted.) -
The Long-Run Stagnation of the Japanese Economy and Its Implications for the Korean Economy
The Japanese economy has gone from an admirable global benchmark for superb growth performance to a degenerate model that should be avoided by policy-makers of all countries. The decline of the Japanese economy is obvious in almo..
Dae-Keun Park et al. Date 2002.12.30
Economic developmentDownloadContentSummaryThe Japanese economy has gone from an admirable global benchmark for superb growth performance to a degenerate model that should be avoided by policy-makers of all countries. The decline of the Japanese economy is obvious in almost all indicators, including the GDP growth rate, the unemployment rate, the bankruptcy rate and the ratio of non-performing loans. Stock prices and real estate prices have descended to the levels of the mid-1980s. It is no wonder that the 1990s have been termed "the lost decade." What is worse, with deflation continuing into the twenty-first century, Japan has yet to find its way out of the current quagmire. We even hear warnings of a possible economic crisis in Japan.
Japan's long-run stagnation or economic crisis is not likely to be contained within its borders. The slump of the world's second economic power not only slows down global economic growth, it also poses a significant threat to emerging market economies like Korea, which depend heavily on exports for their economic performance. (The rest is omitted.) -
Biological Diversity and Benefit Sharing: WTO TRIPS Discussions from the Korean Perspective
Biological Diversity and Benefit Sharing: WTO TRIPS Discussions from the Korean PerspectiveMikyung Yun The relationship between the TRIPS Agreement and the Convention on Biological Diversity(CBD) was designated as a priority age..
Mikyung Yun et al. Date 2002.12.30
DownloadContentSummaryBiological Diversity and Benefit Sharing: WTO TRIPS Discussions from the Korean Perspective
Mikyung Yun
The relationship between the TRIPS Agreement and the Convention on Biological Diversity(CBD) was designated as a priority agenda for discussion by the 2001 Doha Ministerial. The discussion on this agenda involves rules regarding access to and sharing the benefits of biological diversity, or genetic resources. The issue is characterized by the tremendous dissatisfaction expressed by the developing countries regarding the review of rules governing bio-technology patents and its impact on biological diversity of developing countries, an outstanding implementation issue. (The rest is omitted.) -
Korean-American Trade Structures Since the 1990s
Korean-American Trade Structure since the 1990s. Junsok Yang and Hong-Youl KimThis study examines the changes in industry-level structure of Korea-US trade between 1991 and 2001. This study also examines the role of some macroecon..
Junsok Yang et al. Date 2002.12.30
Trade structureDownloadContentSummaryKorean-American Trade Structure since the 1990s.
Junsok Yang and Hong-Youl Kim
This study examines the changes in industry-level structure of Korea-US trade between 1991 and 2001. This study also examines the role of some macroeconomic variables such as exchange rate and GDP on the trade structure of Korean-American trade through econometric analysis.Since the liberation of Korea in 1945, the United States has been Korea's largest trading partner. US has been Korea's largest export market, and, along with Japan, one of the two largest import sources. However, in terms of percentage shares of Korean exports and imports, the importance of US has been declining since the 1980s. Whereas the American share in Korean exports and imports sometimes reached 50% before the 1980s, by 1991, the American share had fallen to 25% of Korean exports and 22% of Korean imports. While the share fluctuated during the mid-1990s and after the Asian financial crisis, the American share seems to have stabilized around 20% of total Korean exports, and 15% of total Korean imports in early 2000s. (The rest is omitted.) -
Non-trade concerns: Strategics for the DDA negotiation on agriculture
The Agriculture Agreement provides significant scope for governments to pursue important non-trade concerns such as food security, the environment, structural adjustment, rural development, poverty alleviation, and so on. Article ..
Yoocheul Song et al. Date 2002.12.30
Multilateral negotiationsDownloadContentSummaryThe Agriculture Agreement provides significant scope for governments to pursue important non-trade concerns such as food security, the environment, structural adjustment, rural development, poverty alleviation, and so on. Article 20 says the negotiations have to take non-trade concerns into account. Most countries accept that agriculture is not only about producing food and fiber but also has other functions, including these non-trade objectives. Some countries say all the objectives can and should be achieved more effectively through green box subsidies that are targeted directly at these objectives and by definition do not distort trade. Examples include food security stocks, direct payments to producers, structural adjustment assistance, safety-net programs, environmental programs, and regional assistance programs that do not stimulate agricultural production or affect prices. These countries say the responsibility is on the proponents of non-trade concerns to show that the existing provisions, which were the subject of lengthy negotiations in the Uruguay Round, are inadequate for dealing with these concerns in targeted, non-trade distorting ways. (The rest is omitted.) -
Effects of the Liberalization of Distribution Industry in China and Korea's Strategy
The Liberalization of the Distribution Industry in China and Korea's Strategy Hyun-jun Cho This study aims to examine changes and effects related to the liberalization of China's distribution industry and to suggest some strateg..
Hyun-jun Cho Date 2002.12.30
Economic openingDownloadContentSummaryThe Liberalization of the Distribution Industry in China and Korea's Strategy Hyun-jun Cho
This study aims to examine changes and effects related to the liberalization of China's distribution industry and to suggest some strategies to take advantage of the opportunities accruing from the liberalization. Several recent important trends related to the liberalization of China's distribution industry are as follows: The general process of liberalization of its distribution industry was initiated by China's accession to the WTO. With its comparative advantages of a vast market and lower production costs, China is becoming a global distribution and production base. With the opening of the distribution industry, accessing China's domestic market is increasingly becoming the main objective of foreign investment to China. (The rest is omitted.) -
Economic Effects of the Doha Development Agenda
Economic Effects of the Doha Development Agenda Negotiations According to Various ScenariosNakgyoon Choi and Soon-Chan ParkThis study examines the possible effects of the on-going Doha Development Agenda (DDA) negotiations on the ..
Nakgyoon Choi et al. Date 2002.12.30
Multilateral negotiationsDownloadContentSummaryEconomic Effects of the Doha Development Agenda Negotiations According to Various Scenarios
Nakgyoon Choi and Soon-Chan Park
This study examines the possible effects of the on-going Doha Development Agenda (DDA) negotiations on the GDP, welfare, trade and industrial production of Korea by using a computable general equilibrium (CGE) model. The studys objective is to shed some light on the implications for the Korean economy. We consider various scenarios according to possible developments in the negotiations. Since the DDA negotiations cover all economic sectors, we classify economic activities into 14 sectors including agriculture, manufacturing and services. (The rest is omitted.)
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