Driven by shifts in the global economic landscape, the perception of industrial policy has evolved from skepticism to a recognition of its strategic importance. This paper identifies emerging patterns in…
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Email Sunhyung Lee
About Sunhyung Lee
Dr. Sunhyung Lee is a Non-Resident Fellow at the Korea Economic
Institute and an Assistant Professor of Economics at Montclair State
University. Before joining the academia, he served as an Associate
Research Fellow at the Korea Institute for International Economic
Policy, where he contributed to policymaking on global economic issues
from 2020 to 2021. Dr. Lee conducts applied and policy-relevant
research on international economics, specializing in foreign direct
investment (FDI), global value chains (GVCs), multinational
enterprises (MNEs), and emerging trade and industrial policies. Dr.
Lee holds a Ph.D. in Economics from the University of Oklahoma and a
Bachelor’s degree in Economics and International Business and
Management from Dickinson College.
July 29, 2025
On July 7, 2025, U.S. President Donald Trump sent a letter to South Korean President Lee Jae Myung, warning that a 25 percent tariff on all Korean imports would take effect on August 1 unless a new trade deal were concluded. While responding to the letter will take time and negotiators from both countries are…
July 21, 2025
Policy uncertainty in the United States has increased, which is influencing the long-term outlook for South Korean multinationals’ investment decisions. I use recent data to quantify the magnitude and drivers of this uncertainty, including trade, monetary, and fiscal policies. Then, I examine how firms may respond, such as aligning with U.S. policy initiatives, adopting a…
May 29, 2025
Since 2019, decoupling has been the keyword for the global economy. This trend mainly manifested around the US-China trade war, in which the two economies tried to reduce their economic dependency on each other. It had a tangible impact on global supply chains as multinational corporations shifted their production away from China. For instance, GoPro,…
February 10, 2025
In the early 21st century, global value chains (GVCs) grew longer and became reliant on low-cost countries for assembly, employing just-in-time production methods. These practices were tested during events like the US-China trade war and the COVID-19 pandemic. In response, many companies shifted their GVC strategies toward a focus on resilience and diversification. As this…