Dear Readers,

With the 31st edition of Korea’s Economy, we have turned our focus to Northeast Asia where China and Japan represent two of South Korea’s most important trading partners. Meanwhile, North Korea remains an economic and security challenge.

As with past years, this edition of Korea’s Economy maintains our tradition of looking for experts both on and off the peninsula to help explain the economic situation in North and South Korea, drawing in expertise from the United States, South Korea, China, and Australia.

The current volume kicks off with a look at the current state of the South Korean economy and the role of corporate debt in the economy.

After exploring the domestic economy, we turn our attention to South Korea’s economic relations with Northeast Asia. South Korea’s FTA with China has now been in place a little over a year and the first article in this section explores the economic implications of this agreement. Continuing our look at South Korea’s economic ties to Northeast Asia, the volume considers the importance of South Korea’s economic relationship with Japan and the growing importance of economic relations with Mongolia.

Our look at North Korea focuses on three key areas for the future – industry, infrastructure, and healthcare. Here we take a fascinating look at the current state of infrastructure in North Korea, where it may surprise many to learn that North Korea has more kilometers of rail than South Korea. We also give our readers a better understanding of the state of industry and healthcare in North Korea.

We hope that you enjoy this edition of Korea’s Economy. We look forward to continuing to produce objective and timely analysis of issues affecting South Korea’s domestic economy and its economic relations with nations around the world.

The Honorable Donald A. Manzullo

Former Member of Congress, 1993-2013

President & CEO, KEI

Troy Stangarone

Senior Director of Congressional Affairs and Trade, KEI

Editor, Korea's Economy