In 2015, the Korean economy was exposed to a range of variables that caused rapid global economic changes such as falling oil prices, interest rate hikes in the US, and the conclusion of the Trans-Pacific Partnership (TPP) Agreement. Amidst the whirlwind of drastic global economic change, Korea has successfully served its function as an axis of the global economy - as a member of the Organisation for Economic Co-operation and Development (OECD) and G20 - and has become a more influential donor as part of the OECD Development Assistance Committee.

The Korea Institute for International Economic Policy (KIEP) has conducted preemptive research and responded promptly to government agendas to help the country overcome the external challenge of a rapidly changing world economy. We selected key agendas for preemptive research, such as analysis of major global economic issues, including those for emerging countries, and the development of corresponding cooperation measures; analysis of bilateral and multilateral trade issues; capacity-building for economic partnerships, such as official development assistance; response to climate change, including greenhouse gas emission reduction; and practical preparation for reunification through capacity-building.

As a result of our strenuous efforts to swiftly analyze global economic shifts and present economic policy plans and mid？ to long-term strategies at a global level, KIEP ranked 33rd on the 2015 Global Go To Think Tank Index compiled by the Think Tanks and Civil Societies Program (TTCSP) at the University of Pennsylvania, and has been selected as the top domestic policy research institute for four consecutive years. As seen in such acknowledgements, KIEP continues to build its status as a world-class research institute.

This annual report is a compilation of the outcomes of specialized, in-depth studies and research we have conducted on a wide range of subjects over the course of 2015. The report contains an introduction to the institute, an overview of KIEP, outstanding research projects of 2015, research achievements of 2015, and settlement of accounts for 2015. In addition to outlining KIEP's key achievements and activities, this report includes research plans for 2016.

We will continue to exert our utmost efforts to become the world’s best globalized research institute, enhancing Korea’s standing and becoming a trusted partner of groups with policy demands as well as the public. We extend our heartfelt gratitude to all for the support and keen interest in KIEP’s growth and development.