In 2008, those of us at KIEP had designated four main research topics we deemed most pertinent to current circumstances, and engaged in twenty major projects in line with those topics. These include negotiations for liberalization of the services market and other multilateral trade issues in response to WTO regime reforms and other changes in the world trading environment; economic cooperation in APEC and other regional issues; and current bilateral trade issues including free trade agreements. KIEP conducted research to address changes in the macroeconomic environment surrounding Korea, such as changes the internationalization of the Korean won as a result of Korea's increasing prominence on the international economic scene, and presented basic resource materials and provided directions to prepare for changes in North Korea. Policy responses to global inequalities in light of the current rapid transnational movement of capital were forwarded, in addition to measures to facilitate Korea's entry into foreign markets and attract foreign investment. In recognition of rising demand for research on the world's regions, KIEP did not limit itself to providing data on Korea's major trading partners such as the US or China, but made efforts to provide basic data on Central/South America and Africa that had hitherto been lacking.

Message from the President
On Publishing the 2008 KIEP Annual Report
Mission and Brief History

Ⅰ. Overview of KIEP Projects and Activities

1. Overview of Projects
• Outline and Current State of Research Projects
• International Macroeconomics and Finance
• Mid-and-Long-term Trade Strategies
• FTA/DDA Policy
• FDI/ODI
• Regional Economic Studies
• International Development and Cooperation
• Other Policies

2. Affiliated Bodies and Research-related Activities
• Center for International Development Cooperation
• DDA Research Center
• National Center for APEC Studies
• Korea's Official Pool of International Economists (KOPIE)
• SNU-KIEP EU Center
• KIEP Beijing Office
• Korea Economic Institute (KEI) in Washington, D.C.
• Joint KIEP-SAIS Research
• International Seminars and Policy Councils
• KIEP Economic Analysis Model and DB Project
• Asian Economic Panel (AEP) and Publication of Related Academic Journal
• Reinforcement of Regional Economic Studies Project
• Training of Regional Specialists Through Joint Ventures Involving KIEP and
Graduate Schools of International Studies
• Strengthening of Cooperation with Research Institutes Abroad
• Information Management
• Publications
• Informatization
• Public Relations

Ⅱ. Review of 2008 Projects

1. Research Trends in 2008

2. Basic Research Tasks

Multilateral and Bilateral Trade Policy Amidst Changes in the Global Trade Environment
• A Study on Korea's Strategies for Mode 4 Negotiations in Trade in Services:
Implications for Independent Professionals
• Analysis of Main Texts and Commitment Schedules of
China's Previous FTA Service Agreements
• Comparative Analysis of FTA Agreements by Korea, China, and Japan, and
Policy Implications for a Northeast Asia FTA
• The Reformation of the WTO System and Korea's Response
• Empirical Analysis of Factors Affecting Korea's Trade Structure and Current Account
• Improvement of Trade Adjustment Assistance Program as a Social Safety Net
• Korea's FTA Rules of Origin: Review and Future Strategy
• An Analysis on the Characteristics of Japan's EPAs and
Policy Implications on Korea-Japan FTA

Responses to the Changes in the International Macroeconomic Environment
• Major Issues on APEC Economic Cooperation and Policy Implications
• Crisis and Internationalization of the Korean Won II
• Market-Oriented Economy Education in Transition Countries and
Applicability of the Education Experience to North Korea

International Capital Flows
• Development Strategies for Higher Education in an Era of Globalization
• Cross-border M&As and Implications for Korean Direct Investment Abroad
• Changes in the Pattern of International Capital Movements and
Financing of the Current Account Deficit of the United States

Regional Studies and Study of Measures for Cooperation with Various Regions
• China's Consumer Market
• Korean Firms' Investment and Future Agenda in Russia
• Korea's Economic Cooperation Strategies toward Latin America:
A Perspective from Its IDB Membership
• The Assessment of Korea's Capacity as Foreign Aid Donor
• Korea's Systematic Approach of ODA Policy toward Africa

3. Periodical Publications
Journal of International Economic Studies (JIES)
World Economy Update

Ⅲ. Research Projects in 2009

1. Summary of Research Projects in 2009

2. Basic Research Goals in 2009

3. Basic Research Tasks
• The Reorganization of the International financial Order in the Aftermath of
the Subprime Mortgage Crisis and the Implications Thereof
• The Maximization of FTA Effects, and the Direction of
Domestic Policy & Restructuring Efforts
• Outlook for the Development of China's Distribution Service Industry and
Analysis of the Use Thereof-With a Special Focus on Telecommunication Sales
• Analysis of the Current Tasks and Policy Measures
Related to the Actualization of an East Asian FTA
• The Influence of Foreign Capital on the Korean Bond and
Derivatives Markets and Policy Implications Thereof
• Macroeconomic Stabilization Policies in the Face of Global Shocks
• Analysis of the Economic Influence of the DDA and the Current State of
Domestic Policy as Pertains to the Efficient Implementation Thereof
• Economic Impact of an APEC FTAAP and Korea's Future Strategy
• The Development of Korea's Business Service Industry Amidst Changes
in the Global Environment: With a Special Focus on the IT Service Industry
• Analysis of Barriers to Service Trade in Major Countries
and the Policy Implications Thereof
• Analysis of the Domestic Investment Environment as Pertains to
the Promotion of FDI and the Policy Implications Thereof
• Japan's Low Carbon Society Strategy
• Conceptualizing Korea-Russia Economic Cooperation
in the Era of Strategic Partnerships
• The Implications of the United States and Canada's Green Growth Strategy
• Assessment of Korean Enterprises' Investment in Central and
South America and the Implications Thereof
• Study on the Effective Implementation of a KOR-ASEAN FTA –
With a Special Focus on Commodity Trade
• Conveying Korea's Agricultural Development Experiences to Africa
• Analysis of the Korea-China-Japanese Service Industry Trade Structure and
of Their Respective FDI Environments
• Analysis of Obstacles to North Korean Economic Cooperation and the Easing Thereof
• Korea's National Strategy with Regards to the Rise of China
• Analysis of the Effects of a KOR-EU FTA and the Future Direction of EU Trade Policy
• World Economy under the G-20 (mid & long-term trade strategy)

Ⅳ. Appendix

A Glimpse at KIEP
• Organizational Structure
• Main Research Focus
• Staff