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Financing the unification of two Koreas

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Frame of Image untary contributions Costs Road, railroad, local transport system, housing, urban development, etc. Regional economic development, agricultural support, coastal preservation, etc. Pensions, labor market programs, childcare, higher education, etc. German Unification Fund (1991-1994) Assistance to sales tax Fiscal equalization across Länders Federal grants Wages and salaries, defense € billion 160 90 630 630 296 (%) (12.5) (7.0) (49.2) (23.1)
Other spending Total transfer (A)
105 1,281 300 981
(8.2) (100.0) (23.4) (76.6)
Revenue from the Eastern Länders (B) Net transfer (A – B)
Source: German Federal Ministry of Construction and Transportation; Recited from Seung Hyun Lee and Kap-sik Kim, “The Issues and Alternatives on the Reunification Cost of the Korean Peninsula, Policy Studies, The Institute for National Security Strategy Winter -42011, pp.163-206.
Circumstances are less favorable in Korea.
Comparing Germany and Korea
Comparing Germany and Korea
Population (thousand) 16.4 62.3 0.26 24.2 48.9 0.49
G DP (Mark bn/won tn) 353.4 2,237.0 0.16 29.9 1,172.8 0.03
GDP per capita (Mark/won thou) 21,500 36,300 0.59 1,235 23,996 0.05
Germany East (1989) West E/W Korea (2010) North South N/S
Source: Jaewoo Lee, “If North Korea integrates into the world economy…,” Bank of America Merrill Lynch, Feb. 1, 2012.
-5-
There have been suggested widely different estimates for unification costs.
Author KDI Samsung Rand Year of publication 1991 2005 2005 Estimated costs US$ 2-3 trillion US 500 bil


Full Text
Title Financing the unification of two Koreas
Similar Titles
Material Type Proceedings
Author(English)

KOH, Youngsun

Publisher

[Seoul]:KDI

Date 2012-10
Pages 27
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Holding KDI; KDI School of Public Policy and Management