Since its establishment in 1989, the Korea Institute for International Economic Policy (KIEP) has served an important role in the nation’s trade negotiations by responding to the national demand for research to advance trade policies and by providing analyses and rational strategies pertaining to the trade issues of the day.

In 2016, the Korean economy was exposed to an unprecedented level of uncertainty. The decision for Brexit was approved in Europe, while the U.S. elected Mr. Donald Trump, a candidate who had campaigned for “America First” policies and the strengthening of protectionism, as their next president. These developments and others came as a warning of grave challenges for the nation’s trade and foreign relations.

Over the past year, KIEP has focused its capabilities on a number of futureoriented research projects, examining issues such as the slowdown in world trade prompted by the spread of protectionism and isolationism, the need to monitor the European economy in the midst of growing uncertainty caused by developments such as Brexit, structural change in the Chinese economy, and slower growth in emerging economies.

We continue to expand our international networking capabilities through the KIEP Beijing Office and the Korea Economic Institute of America (KEI) in Washington, as we grow our presence as a global think tank through joint research projects with distinguished scholars and experts around the world.

This annual report is a compilation of the achievements realized by our institute through specialized and in-depth research conducted over the year. The report outlines the outstanding research projects of 2016, research achievements toward key national objectives, and major research-related projects carried out by KIEP throughout the year, covering our major achievements and activities in each area.

We will continue our determined efforts to develop even further as a national research institute that represents Korea. And, as always, we extend our heartfelt gratitude for the gracious support and keen interest shown toward KIEP’s growth and development.