Korea's Economy
From the Issue
Korea's Economy Volume 27About Korea's Economy
Korea’s Economy is KEI’s annual journal publication dedicated to the key issues of the day for the Korean economy. Articles in Korea’s Economy are designed to give the casual, but informed reader insight into issues related to Korea’s markets and financial institutions, economic reform, economic relations with the wider world, and North Korea. It is published jointly each year with the Korea Institute for International Economic Policy.
The year 2010, which is when the Korean economy recovered from the 2008 global financial crisis, seems to have been the turning point to rerecognize China’s importance in many respects. Previously, Koreans saw China as a mere export platform for Korea. Now China has become a major economic partner, vital for Korea’s survival. As a result, in just two decades China is the only country to become a partner to Korea that engages in not only the exchange of goods but also other production factors. Thus, it is possible to make a cautious forecast that, ultimately, the economic integration between the two countries will be stronger and deeper than their integration between any other areas in the near future.