Korea’s Economy in the Global Context
This publication, Center for China and Asia-Pacific Studies conference paper 2019-3, is based on a presentation titled “Korea’s Economy in the Global Context” given at an event co-organized with the Institute of Hispanic Studies at Kora University, Peru-Korea: International Forum on Trade and Investment”, held in April 2019. The paper focuses on the research of Yoo Dasun, Ph.D., professor and researcher at Korea University Business School. In her presentation, Professor Yoo outlined the main determinants of Korea’s economic growth in terms of innovation, fiscal and financial soundness, and global trade volume. Likewise, she highlighted the leading role played by Korea in the development of key markets such as telephony, energy, and chemicals. Professor Yoo’s presentation reviewed Korea’s progress since 1950, when the country established a model that encouraged the creation of companies in strategic sectors alongside economic liberalization, the evolution of GDP per capita, the main Korean companies by sector, and Korea’s suite of FTAs. The professor went on to stress that a key challenge for Korea in the future is to reduce its commercial dependence on certain industries in which it stands out, and on its most important trading partners such as the United States or China. Another challenge is to continue progressing with commercial diversification in order to boost production for international markets.
- Center for China and Asia-Pacific Studies
Korea University Business School