This study aims to establish a strategy for building foundations for the globalization of rural areas and industries, after examining the requirements for the globalization of rural areas.
The “Globalization of Local Areas”, refers to the internationalization of small towns and villages to advance the Korean economy. It is a strategic mechanism to improve local economies and better the lives of local residents by opening the local economy to a global market and enhancing the international competitiveness of local companies. In order to globalize rural areas, it is necessary to build a customized foundation for the internationalization of each location, before reinforcing its specialized industries, supporting the local economy, and utilizing the Northeast Asia economic zone.
In order to build a foundation for the internationalization of rural areas, supporting related professionals, promoting cultural, technological, and economic exchange with overseas entities, the reorganizing of administrative structure is necessary. Providing pertinent information, coordination and support for the related work, and detailed planning to local governments is also required. Additionally, the private sector should play a role as actor of the exchange, and provide management and financial sources.
As for the globalization of small-town industries, international exchange in terms of production factors such as technology, capital, and expert professionals is required. Support for the enhancement of local companies’ capacity for globally competitive products and services should be made by increasing investment in local residents, thereby enhancing the productivity of local companies. This will ultimately improve the local economy. The following are also necessary: streamlining of local distribution to reduce of logistics costs and alleviate traffic congestion, compensation for the shortage of capital, technology, enhancement of production methods of information, advancement of industrial structure by attracting investment from domestic and overseas companies, fostering of industries which have the potential to enter the global market, and cooperation with the central government.
In order to realize the strategic globalization of certain rural areas, efforts to draw capital, technology, and information should be made. Also, it is necessary to encourage local companies to invest overseas and to forge strategic alliances with foreign companies, to promoting the growth of the local economy.
In order to enhance the competitiveness of small-town industry, the advancement of industrial technology, the streamlining of logistics, the fostering of producer service industries such as finance, information and communication technology (ICT), research, and development should be pursued.
Based on these local development strategies, a long-term strategy to promote the rural areas as commercial centers of Northeast Asia can be devised by developing eastern and western coastal areas, which have been falling behind in the development of Korea. In a macroeconomic view, local development would be feasible through building and aligning local economic blocks in areas such as the Yellow and East Sea coastal regions.
지방의 국제화 추진전략(Strategy for globalization of rural areas)
|Series Title; No||정책포럼 / 제66호(9436)|
|Subject Country||South Korea(Asia and Pacific)|
|Subject||Territorial Development < National Land Development|
|Holding||KDI; KDI School|