Policy Reference
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Policy Reference
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International Framework on Investment Protection: The BIT and MAI
Kwan-Ho Kim Date 1996.12.12
Economic cooperation -
1997 World Economic Outlook and Korea's International Economic Policies
Co-authors Date 1996.12.11
Economic development, Economic outlook -
A Study on Cross-Border Mergers and Acquistions
Cross-border mergers and acquisitions (M&As), or the merger and acquisition of local companies by multinational companies as an overseas expansion strategy, have recently attracted attention.Cross-border M&As, a form of in..
Yunjong Wang Date 1996.12.11
DownloadContentSummaryCross-border mergers and acquisitions (M&As), or the merger and acquisition of local companies by multinational companies as an overseas expansion strategy, have recently attracted attention.
Cross-border M&As, a form of industrial merger, is a dual concept of acquisitions where foreign companies take over the right of management at a local company and mergers of two companies in two different countries.
Behind such cross-border M&As is the increase in direct investment for international trade and industrial mergers.
Following the lead of the United States and Britain, the boom of cross-border M&As escalated in the 1980s due to the increase in corporate takeover bids through the stock market, the viability of M&As as a revenue source and leveraged buyouts. Moreover, this trend is likely to spread to the European Continent, which has taken a conservative position to M&As in accordance with East Europe liberalization and economic integration. -
Competition Policy and Transfer Pricing of Multi-national Enterprise
In a world where foreign direct investment plays an important role in resource allocations, multinational enterprises have been drawing much attention and raising two general issues regading their role. First. multinational firms ..
Young-Soo Woo Date 1996.12.01
Competition policy, Free tradeDownloadContentⅠ. Introduction
Ⅱ. Economic Analysis of Transfer Pricing of MNEs
Ⅲ. The Need to Control Transfer Pricing of Capital
Ⅳ. Policy Implications
References
SummaryIn a world where foreign direct investment plays an important role in resource allocations, multinational enterprises have been drawing much attention and raising two general issues regading their role. First. multinational firms make great contributions to enhancing economic efficiency, by expanding and replacing their economic activities all over the world based on the simple economic principle of efficiency, In a world of truly free trade and investment, the only guiding light for firms is the search to uncover latent profit. Multinational enterprises are the soldiers seeking that goal thereby contributing to the world of economic efficiency by enlarging the pie-size for the world community. Secondly, the economic activities of multinational enterprises create the political economic problem of what rules can be used for cutting and assigning the slices of pie to the parties involved. In some sense, this matter can be described as an economic noncooperative game between national sovereignties and multinational firms.
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Cultural Differences in the Crusade Against International Bribery
This article examines why the current efforts need to be expanded and why a forceful international proclamation against bribery should be eventually adopted. It will offer suggestions as to how this might be achieved, particularly..
Jong Bum Kim et al. Date 1996.12.01
Economic reformDownloadContentⅠ. Introduction
Ⅱ. International Movements to Fight Corruption
A. Recent Undertakings by the OAS, OECD and EU
B. The Need for Greater International Anti-Bribery Efforts
Ⅲ. Cultural Differences and the Example of Rice-cake Expenses in Korea
A. Origins of "Ttokkap" (Rice-cake expenses)
B. Bribery under Korean Law
C. The Social Courtesy Exception
D. Ttokkap and Current Legal Trends
Ⅳ. The Foreign Corrupt Prctices Act.
A. History of FCPA
B. Anti-Bribery Provisions
C. Affirmative Defenses and Permissible Payments
Ⅴ. Conclusion: Incorporating Cultural Differences into an International Anti-Bribery Agreement
SummaryThis article examines why the current efforts need to be expanded and why a forceful international proclamation against bribery should be eventually adopted. It will offer suggestions as to how this might be achieved, particularly in view of the concerns toward respecting cultural differences. Considered by some a model to follow, the FCPA still raises many concerns. This article suggests, however, that certain aspects of the FCPA, if incorporated, may allay concerns expressed by certain countries, thereby facilitating the eventual establishment of a multilateral consensus. -
The Policies of China, Russia, United States and Japan Towards North Korea
The Korean peninsula is surrounded by four powerful countries that have distinctive features. First, China, with a population of 120 million, is moving toward becoming a great economic power by introducing a market economy system ..
Chang Jae Lee Date 1996.11.29
North Korean economyDownloadContentSummaryThe Korean peninsula is surrounded by four powerful countries that have distinctive features. First, China, with a population of 120 million, is moving toward becoming a great economic power by introducing a market economy system without giving up its socialism. Second is Russia, a state that had a suzerain style of communism but is attempting to convert to democracy and a market economy. Third is Japan, which is rising to become a world power, based on its competitiveness and having the world's strongest capital and technology. Forth is the United States, which became a hegemony superpower after the breakdown of the Soviet Union.
This paper pursues the idea that it is natural for the four countries to pursue differing policy toward North Korea and the Korean peninsula. However, at the same time, Korea can find considerable common points in the policies of China, Russia, United States and Japan towards North Korea. -
Economic Effects of APEC Trade Liberalization
APEC, the largest international economic cooperation body in the world, has taken measures to found economy cooperation within area since a cabinet meeting was held in 1989 and a summit followed in 1993.Among the three summits hel..
Inkyo Cheong Date 1996.11.13
Free tradeDownloadContentSummaryAPEC, the largest international economic cooperation body in the world, has taken measures to found economy cooperation within area since a cabinet meeting was held in 1989 and a summit followed in 1993.
Among the three summits held so far, the Bogor summit, which declared that trade liberalization would be realized in the APEC region from 2010 to 2020, and the Osaka summit, which adopted open-door regionalism as a fundamental rule, have played leading roles in forming the direction for APEC's implementation mechanism.
The APEC 4th summit held in the Philippines will review and settle the Individual Action Plans and Collective Action Plans that will build upon the Osaka declaration. -
Sectoral Evaluation and Expectations for Korea's Entry to the OECD
This paper overviews the content and evaluation of Organization for Economic Cooperation and Development, with an emphasis on sectoral approach and identifies some points to be considered for further trade liberalization activitie..
Co-authors Date 1996.11.07
Economic reformDownloadContentSummaryThis paper overviews the content and evaluation of Organization for Economic Cooperation and Development, with an emphasis on sectoral approach and identifies some points to be considered for further trade liberalization activities in OECD. In addition, this report broadens the Korean understanding of overall trends in international economic governance, of which the OECD has been at the forefront.
This paper covers a wide range of issues: marine transportation, assurance, finance, capital movement and current invisible operations, investment and multinational company, environment, financial affairs, trade, labor and agriculture. -
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The Stabilization of the WTO System and New Trade Issues
This report anticipates that the World Trade Organization (WTO) is to clear the way for a new international economic order, one of freer and fairer trade in the global economy.In addition, it discusses the so-called new trade issu..
Chan-Hyun Sohn et al. Date 1996.10.23
Trade policyDownloadContentSummaryThis report anticipates that the World Trade Organization (WTO) is to clear the way for a new international economic order, one of freer and fairer trade in the global economy.
In addition, it discusses the so-called new trade issues such as the environment, investment, competition policy, labor standards, and bribery and corruption.
The WTO was founded by an agreement made at the eighth multilateral GATT negotiations. Established in 1947, GATT played a leading role in the international economy, contributing to trade liberalization through several multilateral negotiations on tariff reductions and the removal of non-tariff barriers in response to changes in the world trade environment.
GATT, however, had few binding forces and was a restricted trade agreement as actual agreement were settled in a multilateral format that was only inclusive of a few GATT member nations. In addition, GATT did not address the ever-increasing role of service and intellectual property in international trade.
As with GATT, Having legal binding force to some extent, the WTO will focus on maintaining the momentum of trade liberalization among countries and on keeping up to date with the ever-changing integration processes of the world economy.