"Korea: September 2000"

WTO Trade Policy Review, Press Release, September 18, 2000..

 

Synopsis:

The opening case in chapter 4 explains that a country’s international trade policies can have a significant impact on its economic growth. The trade policy of South Korea was strongly outward-oriented, which may explain why South Korea achieved a much higher economic growth rate than Ghana with the inward-oriented trade policy.

 

This WTO secretariat report provides an update of the international trade policies of South Korea. According to the report, the Korean government has further relied on the outward-oriented trade policy. As a way to recover from the economic crisis in 1997, South Korea has pursed market-based reforms rather than resorting to protectionist measures. This report also reviews several sectors where the reforms are not enough.

 

Full-text Article: http://www.wto.org/english/tratop_e/tpr_e/tp138_e.htm

 

 

Case connection:

"The Gains from Trade: Ghana and South Korea" in Chapter 4 (pp.118-120).