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Korea’s Economy Volume 24

Publication: May 2011
Karim Pakravan

Financial Asia Rising: Asian Stock Markets in the New Millennium

The twenty-first century has already been dubbed the Asian century. Although this nomination may be premature, it is certain that its fi rst decade belongs to Asia. This is reflected in all the major indicators. During 2001–06, real GDP in emerging Asia (EMA) increased by an average of 8.2 percent…

The Graying of Korea: Addressing the Challenges of Aging

This past year—2007—was another solid one for Korea’s economy. Buoyed by continued strong exports and a pickup in domestic demand, real GDP is estimated to have grown by nearly 5 percent in 2007, similar to the previous year, while inflation remained well under control, at about 2.5 percent on average…

The Roles of China and South Korea in North Korean Economic Change

The year 2007 demonstrated more clearly than ever that external economic engagement provides a chance to help convince North Korea to abandon isolation and take specific actions toward denuclearization that could enable it to become a full member of the international community. In February 2007, a major breakthrough in the…

U.S.-Korea Economic Relations: A Washington Perspective

On 30 June 2007, United States Trade Representative Susan C. Schwab and Republic of Korea Trade Minister Kim Hyun-chong signed the United States-Korea Free Trade Agreement (KORUS FTA), an encompassing economic deal with broad implications for the U.S.-ROK alliance and U.S. engagement in Asia. Noting the occasion, President Bush issued…

Peering Into the Future: Korea's Response to the New Trading Landscape

As the first decade of the twenty-first century nears an end, distinct patterns are emerging in the global trading system. The Doha Development Round remains stalled and has begun to raise questions about countries’ ability to reach meaningful trade liberalization under the current multilateral structure. At the same time there…

David Jin-Young Lee, Henry An

Tax Issues Affecting Foreign-Invested Companies and Foreign Investors

Korea’s regulatory environment is often cited as being one of the most difficult aspects of doing business in Korea. Among the various regulations that foreign invested companies and foreign investors must contend with, Korea’s tax laws tend to draw particular disdain, especially with respect to the enforcement of tax compliance…