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KEI Spotlight

Is the Korean Economy Resilient in the Face of Strong Global Headwind?

September 27, 2012

 

September 13, 2012 – The Korea Economic Institute and the Korean Economic Society co-hosted Dr. Jack (Jookyung) Ree of the International Monetary Fund for a discussion on the outlook of Korea's economy in the face of the global financial crisis and slowdown.

Dr. Jack Ree’s presentation focused on the key challenges facing Korea’s economy, its outlook in the midst of the global economic slowdown, and a roadmap for rebalancing the economy for sustainable growth.

In the aftermath of the recent global financial crisis and the ongoing euro crisis, the world economy is still seeking to establish new frameworks for recovery and sustainable growth. While South Korea is often admired for its ability to swiftly recover from difficult economic circumstances, its export driven economy is nevertheless vulnerable to global strains due its high level of reliance on international markets. Given the challenges that lie ahead as a result of the current global economic slowdown, what is the outlook for Korea’s economy? What are its prospects and its vulnerabilities? Additionally, in what ways can Korea contribute to establishing robust, sustainable growth in a broader global context, including: re-evaluating macroeconomic policy frameworks, redesigning financial regulation and supervision, and strengthening the international financial architecture?

Dr. Ree has been working in the IMF Korea team in Asia Pacific Department since 2011. Prior to this, he worked on Cambodia, Laos, and Vietnam in the same department. Dr. Ree joined the IMF in 2006, working as Senior Economist in Monetary Capital Market Department for three years. He started his career in the Bank of Korea where he spent most of time in the Research, Secretariat, and Financial Stability Department. Dr. Ree received his B.A. in Economics from Seoul National University and Ph.D. in Economics from Cornell University.

To view the video of the event, please visit KEI's Youtube. 

To view photos of the event, please visit KEI's Flickr.