Dear Readers,

We are honored to present to you the 30th edition of Korea’s Economy. Over the past 30 years, this landmark journal has documented the remarkable transformation of the Korean economy and its rapid industrialization as one of Asia’s four “tigers” that began in the 1960s. The raw statistics from the World Bank1 showing a mammoth increase in Korea’s Gross Domestic Product (from $100 billion in 1984 to $1.41 trillion in 2014) and its Gross National Income (on a per capita basis from $2,360 in 1984 to $27,090 in 2014) during the lifetime of this journal do not scratch the surface of the implications of Korea’s rise from the ashes of a devastating war for both the United States and the rest of the world. We trust that this journal has been important in broadening the perspective of individuals interested in the growing role Korea has played in the world economy.

For the American audience, the Korea Economic Institute of America (KEI) has also long been in the forefront in drawing back the curtain of the opaque North Korean society and documenting various opportunities and challenges that face possible unification of the Korean Peninsula.

This year, the volume contains 12 noteworthy articles written by scholars from both inside and outside of Korea. In light of this milestone edition, the papers discuss Korea’s post-war economic history and implications for the future; key factors needed to foster an environment in Korea that encourages entrepreneurship and innovation to keep this “Miracle on the Han River” growing well into the future; Korea’s deeper economic relations with Europe; and the vision for a united Korean Peninsula and the economic lessons learned from the German reunification experience.

KEI, created in 1982, is a U.S.-based non-profit educational organization partnered with the Korea Institute for International Economic Policy (KIEP) dedicated to promoting dialogue and understanding between the Republic of Korea and the United States on economic, policy and security relations. KEI accomplishes its mission through a combination of 10 signature programs and academic journal publications, such as Korea’s Economy, special events, and our website (www.keia.org) and social media presence. For over 25 years, KEI has also sponsored papers at our yearly academic symposium, which are subsequently published in KEI’s annual Joint U.S.-Korea Academic Studies journal. In addition, KEI conducts a wide range of conferences, seminars, and roundtables. These include programs in Washington, D.C., which often feature distinguished thought-leaders from Korea, as well as programs throughout the United States that include scholars, diplomats, key U.S. and Korean government representatives, and occasionally the Ambassadors from the two respective countries.

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 Korea’s domestic economy and its economic relations with nations around the world. We invite you to be a part of the discussion by responding to our call for papers or offering opportunities for KEI to put on a forum at your local university or town.

The Honorable Donald A. Manzullo, Former Member of Congress, 1993-2013 & President of KEI

Troy Stangarone, Senior Director of Congressional Affairs and Trade, KEI