Export Promotion Policies, Export Composition and Economic Development of Korea

Abstract

Korea has achieved rapid economic development for the past few decades, raising its economic stature from one of the most impoverished countries in the world to an advanced industrial nation. Korea will host the G20 summit meeting in November 2010. What is the reason for the rapid economic development of Korea? This paper discusses the policy measures taken by the Korean government to promote exports, analyse their contribution and problems, and provide developing countries with the implications for their economic development process under the WTO system drawn from the experience of export-led economic development of Korea.