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The economic impacts of outbound FDI and trade : The case of Korea

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Frame of Image intaining the growth momentum and social integrity. Indeed, the financial crisis brought Korea into a new, distinctive phase of economic and social development, and Korea is expected to continue to go through deep and fast structural changes as it has experienced over the past 8 years, or so. Focusing on industrial dimension, the financial crisis ushered in at least three fundamental changes. The first pertains to an overall industrial landscape of Korea. Before the crisis, Korea's industrial landscape was dominated by a handful of Chaebol-affiliated large firms, with the roles of foreign firms and SMEs very limited. After the crisis, however, a mass of global MNEs entered the Korean market and came to have greater market influences in many critical nodes of industrial supply-chain including core intermediate products. On the other hand, in the course of massive restructuring and downsizing efforts, Korea's leading conglomerate companies themselves pursued new business strategies including outsourcing and offshoring, resulting in serious undermining of traditional subcontract relations with SMEs. Although this put many traditional SMEs in deep trouble, a group of SMEs with independent technological capabilities managed to capitalize on new market environments, forging up so- called NTBFs (new technology-based firms). As a result of all these changes, a new tripod competitiveness structure has emerged in Korea, in which foreign MNEs and a group of NTBFs came to fore as two add


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Title The economic impacts of outbound FDI and trade
Similar Titles
Sub Title

The case of Korea

Material Type Reports
Author(English)

Ahn, Sanghoon; Lee, Dongheon; Lee, Siwook; Woo, Cheonsik

Publisher

[Seoul]:Korea Development Institute

Date 2004
Pages 35
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Trade
Economy < Direct Investment
Holding Korea Development Institute; OECD