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Trade and foreign direct investment patterns in the Republic of Korea in the aftermath of the 1997 Asian financial crisis

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  • Trade and foreign direct investment patterns in the Republic of Korea in the aftermath of the 1997 Asian financial crisis
  • Min, Byung S.
  • UNESCAP


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Title Trade and foreign direct investment patterns in the Republic of Korea in the aftermath of the 1997 Asian financial crisis
Similar Titles
Material Type Articles
Author(English)

Min, Byung S.

Publisher

[Bangkok, Thailand]:UNESCAP

Date 2006
Journal Title; Vol./Issue Asia-Pacific Trade and Investment Review:vol. 2(no. 1)
Pages 22
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Economy < General
Holding Griffith University

Abstract

This paper shows that the Republic of Korea has experienced significant change in both trade and foreign direct investment (FDI) flows since the 1997 Asian financial crisis. The analysis indicates that a rapid increase in exports at the onset of the crisis helped to improve foreign reserves of the Republic of Korea and also helped the economy to recover from severe recession. Despite the crisis, the importance of the Chinese market has steadily increased to the point where it is the most important export market for the Republic of Korea, largely at the expense of the Association of Southeast Asian Nations (ASEAN) market. The crisis also had a significant impact on FDI inflows, both in terms of source country and host industry. FDI increased sharply following the crisis, and this rapid increase was largely due to higher United States and European Union investment in the service sector. (The rest omitted)