ASEAN FDI (Factors Influencing ASEAN FDI and the Policy Implications)

Abstract

Korean Abstract: 본 연구는 아세안 FDI 특징과 비즈니스 여건을 살펴본 후 그 결정요인을 실증적으로 분석함으로써 한아세안 경제협력을 보다 심화시키기 위한 정책적 시사점을 도출하는 데 그 목적이 있다. 본 연구에서는 실증분석을 통해 아세안 FDI 유입 결정요인을 분석하여 그 결과를 제시하였으며, 한국의 대아세안 FDI 활성화를 통한 상호 호혜적 경제성장동력 창출의 측면에서 우리 기업과 한국정부에 시사점을 제시하였다. 본 보고서는 향후 우리 정부의 통상정책과 아세안 지역의 경제협력 정책수립에 큰 기여를 할 수 있을 것으로 판단되며, 아울러 우리 기업의 투자 및 진출전략 수립에도 큰 키여를 할 수 있을 것으로 기대된다. English Abstract: Since the global economic crisis triggered in the United States in 2008, the East Asian economic region has received particular attention as it achieved relatively solid economic growth compared to developed countries, which struggled with recession. The discussion on economic cooperation and economic liberalization within East Asia has mainly focused on the RCEP, with this discussion being led by ASEAN as it calls for ASEAN centrality. ASEAN is currently the second-largest overseas investment destination and second-largest trading partner for South Korea, making it an important partner in economic cooperation for South Korea. Particularly, as China is openly implementing economic retaliatory measures against South Korea for the deployment of THAAD missiles in the nation, South Korea has become more interested in the ASEAN market as it strives to diversify its trade and investment portfolio. Under this background, this research examines the characteristics of ASEAN FDI by income level and doing business conditions, then conducts an empirical analysis of determination factors to draw policy implications for stronger economic cooperation with ASEAN. This report consists of five chapters in total. In Chapter 2 we examine FDI determination factors which have been discussed from a theoretical and empirical viewpoint in the field of international economics. In Chapter 3 we look into the current situation of ASEAN FDI and the characteristics of ASEAN FDI by income level, along with conditions for doing business in the region. In Chapter 4, we conduct an empirical analysis of the determination factors for ASEAN FDI inflow, utilizing a covariance structure analysis. Lastly, in Chapter 5, we suggest implications for the Korean government and enterprises to generate mutually beneficial economic growth momentum by promoting Korea’s FDI to ASEAN.