Policy Reference
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Policy Reference
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Capital Needed for North Korea's Economic Recovery and Optimal Investment Policy
Our view is that at the heart of the problem is the fact that North Korea lies in a poverty trap. Continuously decreasing capital stock and inward-looking, military-first economic policies have brought about the economic deteriora..
Deok Ryong Yoon et al. Date 2001.12.30
North Korean economyDownloadContentSummaryOur view is that at the heart of the problem is the fact that North Korea lies in a poverty trap. Continuously decreasing capital stock and inward-looking, military-first economic policies have brought about the economic deterioration. Rehabilitation of the North Korean economy should therefore begin with capital formation and policy reforms. However, the country does not have the capability to build up capital stock on its own and has little expertise to design and implement economic reforms. It is inevitable that capital and technical assistance will need to be provided to North Korea from outside. (The rest is omitted.) -
The Benefits of Trade Facilitation in APEC
The Benefits of Trade Facilitation in APECSangkyom Kim, Inwon ParkAt the 1994 APEC Leaders' Meeting at Bogor, the APEC Leaders committed to achieve the goals of free and open trade and investment in the Asia-Pacific region by the ..
Sangkyom Kim et al. Date 2001.12.30
Trade policyDownloadContentSummaryThe Benefits of Trade Facilitation in APECSangkyom Kim, Inwon Park
At the 1994 APEC Leaders' Meeting at Bogor, the APEC Leaders committed to achieve the goals of free and open trade and investment in the Asia-Pacific region by the year 2020―with the developed economies achieving these goals no later than the year 2010. With less than ten years to go in meeting the Bogor goals, the issue of implementing free and open trade and investment has become APEC's principle policy concern. In October 1999, the Ministers instructed the Senior Officials to develop concrete actions and measures to prepare the APEC Trade Facilitation Principles in order to keep the momentum of the APEC after the failure of early voluntary sectoral liberalization (EVSL). And, at the 2001 Leaders' Meeting in Shanghai, the Leaders in the Shanghai Accord instructed the Ministers to realize a significant reduction in the transaction costs by endeavoring to reduce them by 5% across the APEC region over the next five years.
With this background, this research attempts to assess the benefits of trade facilitation in the APEC region to suggest alternative ways to achieve the Bogor goals. (The rest is omitted.) -
Liberalization Status of Some Countries and WTO New Round Services Negotiation: Telecommunication, Environmental Services and Energy Services
The Ministerial Declaration of the 4th WTO Ministerial Meeting at Doha in November 2001 annouced to launch the New Round and complete it by January 1st, 2005. This study seek to provide strategies to the New Round services negot..
June-Dong Kim et al. Date 2001.12.30
Economic opening, Multilateral negotiationsDownloadContentSummaryThe Ministerial Declaration of the 4th WTO Ministerial Meeting at Doha in November 2001 annouced to launch the New Round and complete it by January 1st, 2005.
This study seek to provide strategies to the New Round services negotiation, particularly in the area where it has significant implication to the Korean economy, namely, telecommunication, environmental services and energy services. In telecommunication, trading partners are expected to demand allowing foreign equity participation to the facilities-based telecommunication in excess of 49 percent. In response to this demand, the Korean government needs to establish a system of reviewing the foreign investment on whether it is compatible with the public interest or not. This is related to the issue of clarifying the Reference Paper for which guaranteeing the indepence of the regulatory body is crucial. In this regard, Korea Telecom needs to be privatized in order to have the regulatory body indepent from the service providers.
Telecommunication is one of the area where Korean firms have a high potential. Therefore, the Korean government needs to address the impediments of overseas market. In particular, it is necessary to urge the Chinese government to implement liberalization and the Reference Paper in the New Round negotiation. The issues in the environmental services are improvement of the current classification and liberalization of market access. The current classification of environmental services in W/120 is focused on the last stage of cleaning services which does not reflect the recent market develpment of emphasizing the pollution prevention. In regard to the liberalization of market access, the advanced countries aims to remove all the restrictions on commercial presence (mode 3). (The rest is omitted.) -
Comparative Analysis of International Tariff Systems and Economic Effects of Sectoral Tariff Eliminations
An international survey of tariff systems reveals that specific tariffs have been prevalently used by the WTO member countries. According to the current WTO rules, each member is allowed to apply ad valorem tariffs or specific tar..
Nakgyoon Choi et al. Date 2001.12.30
TariffsDownloadContentSummaryAn international survey of tariff systems reveals that specific tariffs have been prevalently used by the WTO member countries. According to the current WTO rules, each member is allowed to apply ad valorem tariffs or specific tariffs if it ensures a certain degree of transparency. From this perspective, Korea should actively introduce specific tariffs especially on low-priced import items. The survey also indicates that seasonal duties and tariff quotas are mainly applied to agricultural products in the case of many members, but rarely applied to industrial products. Therefore, Korea has little room to adopt tariff quotas for industrial products in the New Round negotiations. (The rest is omitted.) -
Assessment of WTO & Korea-related Trade Disputes and Policy Implications
It is well known that since the late 1980's Korea has been pressured by its major trading partners to open its domestic markets. However, it was not until the establishment of the WTO that Korea became frequently involved in trad..
Wook Chae et al. Date 2001.12.30
Trade disputeDownloadContentSummaryIt is well known that since the late 1980's Korea has been pressured by its major trading partners to open its domestic markets. However, it was not until the establishment of the WTO that Korea became frequently involved in trade disputes under the multilateral trading system. In fact, the nature of Korea-related trade disputes has changed substantially since the launch of the WTO. Not only did Korea's involvement in disputes become more frequent, the range of sectors covered by the disputes also expected. Furthermore, Korea was no longer always the defendant but also an aggressive complainant bringing charges of unfair trading practices against its to the WTO. Analyzing the causes of trade disputes and identifying the problems inherent in Korea's trade policy will be meaningful in contributing, not only to the general improvement of Korea's trade-related institutions, but also in determining the stance Korea should take in negotiations at the new multilateral trade round. (The rest is omitted.) -
An Analysis of Success Factors in the Development of the Information and Communications Technology Industry
An Analysis on facilitating Factors behind the Successful Development of Finland's Information and Communications Technology IndustryYoung-Gon Park The ICT (Information and Communication Technology) industries have faced a worldw..
Young-Gon Park Date 2001.12.30
Economic cooperationDownloadContentSummaryAn Analysis on facilitating Factors behind the Successful Development of Finland's Information and Communications Technology IndustryYoung-Gon Park
The ICT (Information and Communication Technology) industries have faced a worldwide recession in the wake of the recent slowdown of the U.S. ICT industry. Therefore the outlook on Korea's ICT industry is also uncertain. Nonetheless, many countries in the world, including Korea, the United States, Japan, Germany, China, and the ASEAN countries, are continuous to invest in the ICT industry since these countries view the ICT industry as a main industry contributing to economic success in the 21st century.Thus, this study analyzes the Finnish ICT industry leading the ICT industry in the world and tried to draw implications for the successful development of Korea's ICT industry. (The rest is omitted.) -
Enlargement of the European Union and Prospects for Korea-EU bilateral trade relations
The European Union is about to face its biggest challenge since the foundation of the European Economic Community in 1957. The challenge is integrating the countries which have applied to join the EU. The EU was built on the prin..
Chong Wha LEE et al. Date 2001.12.30
Economic integrationDownloadContentSummaryThe European Union is about to face its biggest challenge since the foundation of the European Economic Community in 1957. The challenge is integrating the countries which have applied to join the EU. The EU was built on the principle that economic forces must be harnessed to achieve stability and prosperity. It is now offering other European partners the opportunity to benefit from its model of integration. To date, 13 countries are candidates. These countries are: Bulgaria, Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Romania, the Slovak Republic, Slovenia and Turkey. Accession negotiations have started with all of these countries. The gains from this unprecedented enlargement will be substantial, both for the acceding countries and current member states. (The rest is omitted.) -
The Information and Communications Technology Industry in Ireland: Development and Government Support Policy
The Korean ICT (Information and Communication Technology) industry has faced a recession following the worldwide slowdown of the ICT industry. But multinational companies, such as Nokia TMC, Korea HP, Korea IBM and Compaq Korea, a..
Yong-Gon Park Date 2001.12.30
Industrial policyDownloadContentSummaryThe Korean ICT (Information and Communication Technology) industry has faced a recession following the worldwide slowdown of the ICT industry. But multinational companies, such as Nokia TMC, Korea HP, Korea IBM and Compaq Korea, are expanding their investment in Korea and increasing their share in the Korean ICT industry. Therefore this study analyzes the successful case of Ireland's ICT industry and draws implications for the development of Korea's ICT industry.
Ireland was considered as a small agricultural country adjacent to the United Kingdom before its ICT industry had developed. But since the mid-1990's Ireland has achieved the highest economic growth rate among the OECD countries. This result did not occur from technology and export of Irish companies but from the investment of foreign companies. The Irish government provides foreign companies with various incentives, including low corporate tax, financial and technical assistance, and R&D assistance. Along with these investment incentives, English-speaking labor force, lower wages and low telecommunication costs help to attract foreign companies. (The rest is omitted.) -
Singapore's Development Strategy and Economic Growth : Performance and Challenges
Over the past four decades, Singapore has achieved rapid export-led growth with its industrialization which relied on foreign investments. The crucial contribution of Singaporean government has been to provide an efficient infrast..
Yul Kwon Date 2001.12.30
Economic opening, Economic developmentDownloadContentSummaryOver the past four decades, Singapore has achieved rapid export-led growth with its industrialization which relied on foreign investments. The crucial contribution of Singaporean government has been to provide an efficient infrastructure, tax incentives and a workforce attractive to foreign investor. And the government has adopted an activist industrial policy, promoting sectors and firms that were thought to have high growth potential, as well as selective interventions for flexible factor markets and macroeconomic stability. (The rest is omitted.) -
EMU and Enlargement
In January 1999, the European Economic and Monetary Union (EMU) was launched and the single European currency, the Euro, became the national currency of eleven EU countries. The EMU countries have finally reached the last phase of..
Hoo-Young Chung Date 2001.12.30
Economic integration, Monetary policyDownloadContentSummaryIn January 1999, the European Economic and Monetary Union (EMU) was launched and the single European currency, the Euro, became the national currency of eleven EU countries. The EMU countries have finally reached the last phase of the economic union, a project that was first initiated half a century ago. To arrive at this point, they went through various stages and systems such as the 'snake system' or the EMS, and now they have succeeded in adopting a single currency. The detailed plan for the EMU was formulated in the Maastricht Treaty. This treaty also stipulates that only the countries that fulfilled the economic convergence criteria, known as the Maastricht criteria, would be admitted to the last stage of EMU. (The rest is omitted.)
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