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Changing Patterns of Korea's Trade in Goods and Sevices
Korea has achieved rapid economic growth with its export-oriented industrialization policy since the 60's. The average annual growth rate of Korea's real Gross National Product(GNP) during the 1962-1992period was almost 8%, and th..
Jin-Soo Yoo Date 1993.12.01
Trade policyDownloadContentContents
I. Introduction
II. Changing patterns in Korea's merchandise trade
1. Exports and imports by commodity
2. Exports and imports by country
III. Changing patterns in Korea's trade in services
1. Trade in services
2. Technology trade
IV. Prospects
Reference
SummaryKorea has achieved rapid economic growth with its export-oriented industrialization policy since the 60's. The average annual growth rate of Korea's real Gross National Product(GNP) during the 1962-1992period was almost 8%, and the average annual growth rate of Korea's real GNP in the late 80's was above 10%. In 1992, Korea's per capita GNP became US$ 6,749, which is more than 77times of that in 1962.
Unfortunately, Korea could not maintain its trade surplus. which was attributed to the considerably weakened competitiveness of Korean products. The trade surplus in the late 80's resulted in the appreciation of the Korean won and severe labor disputes caused wage increases. The Korean won appreciated by as much as 24% in the late 80's, and wages doubled during the same period.
Recently, economic recession in developed countries is working against Korean exports. Protectionist sentiments are prevailing in major countries as well, because of the high unemployment rate in these countries. Korea is also experiencing difficulties in acquiring high technology and in attracting foreign direct investments. Accordingly, the growth rate of Korea's exports, especially to developped countries, dropped recently. The average annual growth rate of exports during the 1989-1992 period recorded 6.0%, which is considerably lower than the 80's. The average annual growth rate of imports, on the other hand, recorded 12.3% during the same period. -
The Asian Dimention of EC Integration: Problems and Prospects
The Korea Institute for Internatioal Economic Policy (KIEP), in collaboration with the Friedrich-Ebert-Stiftung (FES) of Germany, organized the international seminar on "The Asian Dimension of EC Integration: Problems and Prospect..
Bak Soo Kim Date 1993.12.01
Economic cooperationDownloadContentSummaryThe Korea Institute for Internatioal Economic Policy (KIEP), in collaboration with the Friedrich-Ebert-Stiftung (FES) of Germany, organized the international seminar on "The Asian Dimension of EC Integration: Problems and Prospects" on November 10-11, 1993 in Seoul.
This seminar gathered a number of distinguished scholars and specialists from the EC and Asian countries, who participated in efforts to share views on the issues and to develop new policy concepts that will help build foundations for further cooperative relationships between the EC and Asian countries. -
Regional Context for Korea's Dynamism
Korea's dynamism has put it in an important position to affect the Northeast Asian economy. With this in mind, a group of distinguished scholars from the U.S. and Korea participated in a seminar entitled, "Regional Context for Kor..
Chang Jae Lee Date 1993.12.01
DownloadContentSummaryKorea's dynamism has put it in an important position to affect the Northeast Asian economy. With this in mind, a group of distinguished scholars from the U.S. and Korea participated in a seminar entitled, "Regional Context for Korea's Dynamism: Certainties vs. Uncertainties" on October 12, 1993 in Seoul. During this seminar, the challenges that lay ahead for Korea at the turn of the century were scruinized in for the purpose of developing new policy directions and enhancing Korea's economic role, especially in a regional context for the near future. The meeting provided a rich opportunity to exchange various political-economic perspectives for future progress. -
Korean Strategies for the Economic Cooperation with the Russian Far East
The rapprochement between Korea and the Soviet Union in the late 1980s unveiled the Soviet Union to Koreans for the first time in decades. The initial excitement generated in Korea by this tremendous opportunity was soon replaced ..
Chang Jae Lee Date 1993.11.30
Economic cooperationDownloadContentSummaryThe rapprochement between Korea and the Soviet Union in the late 1980s unveiled the Soviet Union to Koreans for the first time in decades. The initial excitement generated in Korea by this tremendous opportunity was soon replaced by high expectations of economic cooperation with the Soviet Union.
However, the disintegration of the Soviet Union at the end of 1991, as well as the political instabilities and economic deterioration of the Russian economy that followed, constituted very serious obstacles to the further development of the economic cooperation between Korea and Russia. In addition, the fact that Russia was unable to repay Korean loans made the Korean public very skeptical as to whether economic cooperation with Russia was in Korea's best interests.
However, the long-term outlook of Korea-Russian economic cooperation is very bright due to its great potential. Furthermore, despite the uncertainties of Russian politico-economic instability, the short-term prospects for Korea-Russian economic cooperation also look promising, mainly due to the well-established basic frameworks for bilateral economic cooperation that have been created in the past several years.
The purpose of this paper is to first make a comprehensive analysis of the Russian development strategy of the Far East then deduce specific business opportunities and methods of cooperation on territorial development between Korea and Russia. -
Japan's Technology Transfer Policy to Asia, and Korea's Policy Response
Japan's technology rendered in its industrial and economic development has attracted the attention of developed, semi-developed and underdeveloped countries.Japan succeeded in promoting the domestic industry and raising its own te..
Yoo Soo Hong Date 1993.11.29
Technical cooperationDownloadContentSummaryJapan's technology rendered in its industrial and economic development has attracted the attention of developed, semi-developed and underdeveloped countries.
Japan succeeded in promoting the domestic industry and raising its own technology development by introducing, assimilating and improving upon the technology of advanced nations. In addition, after a degree of technical independence, Japan has steadily attempted to transfer and export its technology to other countries.
This report estimates that since the 1960s, Japan's technology transfer toward Asian nations has contributed to substantial economic development of Asian nations. However, there has been criticism about the form and level of Japan's technology transfer.
Following the principal axis of the U.S. and Japan, Korea has concentrated on technical imports for the assembly and processing industry, neglecting its own technology development. Therefore, since 1990, Korea has lost its international competitiveness in the world market.
Accordingly, the objective of this report is to seek strategic ways for Korea to learn from Japan and break the technical deadlock, becoming an advanced welfare country in the 21st century. -
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Internationalization of Intellectual Property Rights: Direction and Issues
The importance of technology has been recently recognized widely as an impetus of industrial development.Most countries and companies can see the necessity of protecting information and communication such as computer software, int..
Yunjong Wang Date 1993.11.25
DownloadContentSummaryThe importance of technology has been recently recognized widely as an impetus of industrial development.Most countries and companies can see the necessity of protecting information and communication such as computer software, integrated semiconductor circuits, databases and up-to-date technology industries such as biotechnology, aerospace and aviation.
There is therefore an urgent need for improved intellectual property rights and a facilitating legal and institutional framework. As the relative importance of developing nations are working to remove the free-rider problem, especially for their accumulated science and technology.The World Intellectual Property Organization and GATT have progressed in discussions to mediate trade-offs between the owners and users of property rights and to consolidate an intellectual property rights system. The Uruguay Round and the TRIPs agreement have been the fruit of the efforts for the internationalization and standardization of intellectual property right.
Accordingly, this report suggests that by strengthening intellectual property rights, Korea should follow international trends and evolve from a technology importer into technology creator. -
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DownloadContentMy fellow Koreans :
My dear fellow Koreans :
My dear fellow Koreans :
My fellow Korean people :
My dear Korean businessmen :
My dear Korean workers :
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