Реферат: Korea in focus
External Policies for Greater
International Cooperation
Import Liberalization
Korea is committed to fulfilling its international
responsibilities. It positively supports the trend toward openness and utilizes
it as a catalyst for further enhancing the international competitiveness of
industry and thus speeding the advancement of the economy, so that it can join
the group of advancedcountries.
Since 1980, Korea has made continuous efforts toward import
liberalization. The import liberalization rate increased from 68.6 percent in
1980 to 98.1 percent in 1993. The average tariff rate decreased from 24.9
percent to 8.9 percent during the same period and is expected to be only 7.9
percent by the end of 1994, the same average level of tariffs found in OECD
member countries.
In October 1989, Korea decided to relinquish GATT balance of
payments protection which mostly covers agricultural products. According to the
decision Korea will move to eliminate its remaining restrictions or otherwise
make them conform with GATT rules by July 1, 1997.
Liberalizing Foreign Exchange Transactions and Capital Markets
In June 1993, the Korean Government made public the third-phase of
the blueprint for financial liberalization and internationalization, which was
implemented from the second half of 1993. Under the plan, procedures for
various foreign exchange transactions are being gradually simplified. Beginning
in 1994, the ceiling on foreign investment in the stock market will be
gradually raised, and the bond market will also be gradually opened to foreign
investment. Initially, from 1994 foreign investors will be allowed to purchase
convertible bonds, even those issued by small-and medium-sized domestic
enterprises.
Foreign-invested firms engaged in the manufacture of high-tech
products or banking and other services are currenlty allowed to induce foreign
credit repayable within three years. Beginning in 1997, the liberal inducement
of foreign credit by both domestic and foreign-invested enterprises will be
allowed.
Increasing Opportunities for Foreign Investors
In June 1993, the Korean Government also announced a five-year
plan for liberalizing foreign investment. Under the plan, 132 of the 224
business lines currently being protected from foreign competition will be
opened to foreign investment in five phases, over a period of five years
starting from July 1993. With the implementation of this plan, of the total
1,148 business lines under the standard industrial classification of Korea,
1,056 will be open to foreign competition. This means that the foreign
investment liberalization rate will rise from 83 percent as of June 2, 1993 to
93.4 percent by 1997.
Included among the business lines to be opened to foreign
competition under the plan are most of the service industries including
distribution and transportation, hospital management, vocational training and
“value-added” communications.
The business conditions for foreign-invested firms will also be
greatly improved through various measures, including relaxed control on the
acquisition of land by foreign-invested firms, the augmented protection of
foreign intellectual rights, and other similar steps.
Cooperation with the Rest of the World, Including Developing
Nations and Socialist Countries
Expanding Trade and Economic Exchanges
The Republic of Korea has emerged as a major global trader by
steadily pursuing freer trade and greater openness, while promoting its
business presence around the world. In the past, Korea’s foreign trade
concentrated on the developed world - mainly the United States, Japan and the
EU. In more recent years, however, it has rapidly expanded trade and capital
cooperation with Southeast Asia, former and present socialist countries and
Third World nations as well.
Especially since the 1988 Seoul Olympics, economic interactions
with the former Soviet republics have been brisk. The Republic of Korea is also
increasing its support of economic development efforts in the Third World on
the basis of its more than three decades’ experience with successful domestic
development.
The nation will continue to pursue expanded and more diversified
trade and to promote economic cooperation on a long-term basis with the rest of
the world, taking into consideration the individual economic characteristics of
each country.
With the United States, the Republic of Korea will pursue not only
expanded bilateral trade and increased mutual private investment and
technological cooperation but also government-to-government cooperation in
industrial technologies. As for Japan, the Republic will pursue
Forward-lookoing practical economic relations and will, in particular, strive
to attract Japanese investment more effectively. Since Korea does not have
serious trade issues with the EU it will focus on promoting overall economic
cooperation, including mutual investment and industrial and technological
cooperation.
With the dinamically growing Asian economies, such as China and
Southeast Asian Nations, the Republic of Korea will endeavor to continue to
expand two-way trade, especially by helping to meet their expanding needs for
capital goods and intermediate products to support their continuing rapid
development, while increasing imports from them as much as possible. The nation
will also encourage Korean business investment in these countries and make
efforts to build an industrial structure complementary with theirs.
The Republic of Korea is increasing its official development
assistance to developing countries proportionate to its economic strength. In
this, efforts are being made to combine such assistance with private Korean
investment, with the aim of maximizing its effect, while developing two-way
trade and other economic ties on a long-term basis.
Economic ties with the Commonwealth of Independent States and East
European countries will continue to focus on commercial applications of their
high technologies and other forms of technological cooperation and joint
development of natural resources.
Korea Trade with and Investment in Various Countries and Regions
Country or Region |
Trade (US$ bil.) |
Investment (US$ mil.) |
|
1987 |
1993 |
1987 |
1993 |
U.S.A. |
27.1 (30.7) |
36.1 (21.7) |
165.3 (40.3) |
380 (30.3) |
Japan |
22.1 (25.0) |
31.6 (19.0) |
1.4 (0.3) |
6 (0.5) |
EU |
11.2 (12.7) |
19.6 (11.8) |
6.5 (1.6) |
157 (12.5) |
China |
1.7 (1.9) |
9.1 (5.5) |
6.0 (1.5) |
260 (20.7) |
Southeast Asia |
8.9 (10.1) |
27.8 (16.7) |
130.5 (31.8) |
179 (14.3) |
Note: Figures in parenthesis represent percentage of the total.
Active Participation in Multilateral Economic Forums
Korea has actively participated in virtually all major
multilateral forums. During the Uruguay Round of trade talks, finally concluded
in December 1993, Korea tried to make conrtibutions commensurate with its
capabilities as a major world trading power, and play a mediating role between
the developed and developing countries. Korea introduced various proposals in
the Uruguay Round negotiations to reduce tariffs, eliminate non-tariff
barriers, liberalize the textile trade, improve safeguards and reduce subsidies
and countervailing duties.
The Republic of Korea is actively participating in global efforts
to protect the environment, a crucial task facing all of humanity. In recent
years it has joined the Convention on Climate Change, the Basel Convention on
the Control of Transboundary Movements of Hazardous Wastes and their Disposal,
the Convention on the Prevention of Marine Pollution by Dumping of Wastes and
Other Matter, also called the London Dumping Convention, the Convention on
International Trade in Endangered Species of Wild Fauna and Flora, and the
Convention on Biological Diversity.
Korea has also begun an informal dialogue with the Organization
for Economic Cooperation and Development (OECD) and has expanded participation
in its various committees . Korea hopes and intends to improve its economic
systems to the level of advanced countries so as to join the OECD in 1996.
One organization in which the Republic of Korea has played a
particularly critical role has been the Asia-Pacific Economic Cooperation
(APEC) forum, a forum for multilateral discussions on economic issues
concerning the Asia-Pacific region.Two examples of Korea’s valuable efforts
have been the “Seoul Declaration” adopted at the third APEC Ministerial Meeting
hosted by the Republic which laid the foundation for the institutionalization
of APEC, and its diplomatic role in bringing China, Taiwan and Hong Kong, three
key regional economic powers, into the APEC fold, giving the forum a new
impetus. Subsequently, the Republic played a leading role at the first APEC
Leaders Economic Meeting in Seattle in November 1993, which coincided with the
fifth APEC Ministerial Meeting, and was elected the chair member of the
Committee on Trade and Investment (CTI).
Страницы: 1, 2, 3, 4, 5, 6 |