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Insight 2007

Publication: May 2011

Competitiveness: Korea's Latest Economic Challenge

Korea is a tough economic competitor. Its meteoric rise over just 30 years from one of the poorest in the world to the ranks of the OECD helped earn Korea the moniker of "Asian tiger," and its recovery from the 1997 financial crisis reinforced this image. Economic performance in 2007…

Tide Turning for Korea’s Auto Imports?

Anyone who has spent time in the bustling streets of Seoul is familiar with the scene: commuters crowding into Daewoo buses, while salary men hurry home in their Hyundai sedans and motorcycle couriers navigate around the 386er families in Kia SUV’s. Some signs are beginning to emerge that the landscape…

Eyes on the Prize: Second North-South Summit Announced, Postponed Due to DPRK Floods

As bodies of North Korean dead floated across the demilitarized zone into the South after massive flooding swept through the DPRK, North Korea requested a postponement of the second inter-Korean summit until October 2-4. The summit, the first between President Roh Moo-hyun and Chairman Kim Jong-il was originally scheduled for…

U.S. International Trade Commission Finds FTA Would Substantially Affect U.S.-Korea Trade and Investment, Korea Pushes Ahead

On September 20, the U.S. International Trade Commission (ITC) released its report on the KORUS FTA. The ITC study is a required analysis under Trade Promotion Authority that explores the economic impact of a proposed trade agreement on the United States. Overall the study found that, if fully implemented, the…

Ambassadors’ Double Header Hits The Road: Six Cities in Eight Days

KEI recently completed its sixteenth annual Ambassadors’ Dialogue program (previously called the Korea Caravan), featuring Lee Tae-sik, the Republic of Korea’s Ambassador to the United States, and Alexander Vershbow, United States Ambassador to the Republic of Korea; they were accompanied by their wives. The 2007 tour took the Ambassadors to…

Brain Drain: Korea Exports Human Capital

Human capital is the most important form of wealth in a knowledge-based economy. The success of a nation in today’s economy depends significantly upon how many highly skilled professionals it can secure and retain. Countries with more intellectual resources achieve a higher rate of economic growth and faster development in…