As Director-General Sutherland pointed out, the Korean economy has benefited from the trade system of GATT during its rapid growth. But since the middle of the 1970s, circumstances began to change. In other words, even though the Korean economy gained from the expansion of international trade, it had to overcome the losses resulting from market opening pressure by industrialized countries and from the spread of protectionism.

The result of UR will also affect the Korean economy positively and negatively. Mr.Sutherland argues that all countries will equally benefit from the result of UR without any winners or losers. However, this observation is true only in the long run and if the concerned countries pursue relevant domestic economic policies which are required for the readjustment. In the short-and middle-term, a considerable cost may accrue to the economy during the process of structural adjustment.

Following the conclusion of UR, the Korean economy is experiencing policy adjustments in the areas of both government and enterprise. From a practical standpoint, a heavy fiscal burden will be placed on the Korean economy as it initiates tentative cultural reforms. In addition, as far as the service sector is concerned, Mr.Sutherland mentioned that the Korean construction sector has high level of competitiveness;however this presumption cannot be extended to other services such as distribution, finance and communication, etc.

머리말

주제발표 : 신세계무역체제와 한국
서덜랜드 GATT 사무총장

토 론 : 김세원 서울대 교수
김완순 고려대 교수
유장희 대외경제정책연구원 원장

답 변 : 서덜랜드 GATT 사무총장

부 록 : 주제발표, 토론 및 답변의 영문 원본

Presentation

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Biographical Note