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South Korean Trade Policy and FTAs.
(From Journal of Japanese Trade & Industry (JJTI))
Byline: Chulsu Kim
It is well known that South Korea's economic growth in the last several decades has been based on an outward development strategy. This strategy has helped to transform the country from a subsistence agrarian economy in the early 1960s into the 12th largest trading nation today. Trade has been and continues to be the engine of growth. Exports and imports now constitute nearly 70% of Korea's gross domestic product (GDP).
In the earlier years of economic development in the 1960s, Korea's trade policies emphasized export promotion, particularly of labor-intensive light ...
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