This document is an authoritative report on loans and investments, published by the Ministry of Finance in 1989. Loans and investments were policy tools that enabled the rapid economic growth of Korea since 1962, and this article defines the roles that loans and investments fulfilled in economic development, and the history of annual policy decisions.
This white paper, published every year since 1982, has been praised for its contribution to theoretical research in the field of loans and investments, and as a resource for professionals working in related fields.
The Ministry of Finance recommended that loans and investments should be leveraged to develop the Korean economy, and predicted that they would become a tool of policy that could balance development and satisfy the welfare budget (which was increased in the course of democratization).
The report describes the annual roles loans and investments played in the process of Korean economic development. Financial loans and investments are defined as government spending that increases government assets or financial activity, such as loans and investments into government-financed projects or private industries. They also were used as a tool for economic adjustment, resource redistribution, and financial market intervention.
Technically, the history of governmental loans and investments began in 1955, when the ceasefire agreement was signed to recover from the Korean War and reconstruct the economy. However, governmental loans and investments were not used as economic tools until 1962, when the first 5 year plan for economic development began.
The report discloses profits and assets of government funded institutions such as: Korea Development Bank, Industrial Bank of Korea, KB Kookmin Bank, Korea Exchange Bank, Korea Minting, Security Printing & ID Card Operating Corp., Korea Tobacco & Ginseng Corporation, Korea Rural Community Corporation, Korea Trade-Investment Promotion Agency, Korea Water Resources Corporation, Korea Electronic Power Corporation, Korea National Oil Corporation, Korea Gas Corporation, and Korea National Housing Corporation in tables.
The report also summarizes the extent of funding and fund profit management of government funds such as the National Investment Fund, Economic Development Cooperation Fund, Industrial Development Fund, and National Housing. Specifically, how the fund was established, the major programs of each fund, and the loan procedure of each fund are summarized in conceptual diagrams.
Additionally, the report introduces the financial investment and loan systems of Japan, the United States, the United Kingdom, France, and Western Germany, and how they can influence Korean policy.
재정투융자백서(White paper on national loans and investments)
|Subject Country||South Korea(Asia and Pacific)|
|Subject||Economy < Financial Policy
Government and Law < Public Administration
|Holding||재무부; 한국개발연구원 국제정책대학원|