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Occupational costs incurred by the United States forces in Korea and their impact on the Korean economy during the U.S. military occupation period

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  • Occupational costs incurred by the United States forces in Korea and their impact on the Korean economy during the U.S. military occupation period
  • Kim, Jeom Sook
  • Seoul National University(Kyujanggak Institute for Korean Studies)


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Title Occupational costs incurred by the United States forces in Korea and their impact on the Korean economy during the U.S. military occupation period
Similar Titles
Material Type Articles
Author(English)

Kim, Jeom Sook

Publisher

[Seoul]:Seoul National University(Kyujanggak Institute for Korean Studies)

Date 2011-12
Journal Title; Vol./Issue Seoul Journal of Korean Studies:vol. 24(no. 2)
Pages 29
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Government and Law < Public Administration
Holding Seoul National University

Abstract

The present study is the first to investigate the costs of occupation incurred by U.S. forces in South Korea (henceforth referred to as Korea) and their effects on the Korean economy from the time of liberation to June 30, 1948. These costs are defined as the means by which the U.S. forces supported and maintained themselves at the expense of the Korean economy. Accordingly, during the U.S. fiscal years 1946, 1947, and 1948, advances from the Bank of Joseon to U.S. forces amounted to about 10 billion Won in total. However, U.S. forces withdrew the funds without any clear plan for reimbursement, suggesting that the U.S. treated Korea as an occupied enemy territory, despite designating it a liberated country. Furthermore, occupational costs and normal governmental costs were mixed up. In mid 1947, the U.S. Secretary of State moved to implement the pay-as-yougo policy in Korea. However, although the U.S. Congress sanctioned funds for implementation in the fiscal year 1948, the process was bogged down when parties concerned could not agree on the establishment of an exchange rate. (The rest omitted)