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South Korean trade strategies in the post global financial crisis

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  • South Korean trade strategies in the post global financial crisis
  • Park, Sang-Chul
  • Contemporary Issues in Business and Government


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Title South Korean trade strategies in the post global financial crisis
Similar Titles
Material Type Reports
Author(English)

Park, Sang-Chul

Publisher

Contemporary Issues in Business and Government

Date 2014
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Conditions
Economy < Economic Administration
Holding CIBG

Abstract

Korea has developed rapidly since the 1960s to become one of the four Asian tiger economies. Korea is an example to other nations of how a developing country can develop its economy rapidly and become industrialized. Its development strategy has mainly been based on an export oriented trade policy. As a result, its trade volume has increased from USD1 billion at the beginning of the 1960s to USD1 trillion in 2011, which is a 1,000 time increase within five decades. However, the Korean economy has experienced turbulence as well as positive changes. It has faced severe economic crises such as the Asian financial crisis in 1997 and the global financial crisis in 2008. This paper discusses Korea’s trade policy and the strategies utilized over the last five decades to develop the national economy. (The rest omitted)