Recent Development of Russia – Japan Economic Relations and Implications for Korea

4 Pages Posted: 30 Jan 2018

See all articles by Joungho Park

Joungho Park

Korea Institute for International Economic Policy

Boogyun Kang

Korea Institute for International Economic Policy

Jiyoung Min

Korea Institute for International Economic Policy

Date Written: January 29, 2018

Abstract

This paper provides the following policy implications for Korea.

First, Korea needs to take a new approach toward Russia. Currently Seoul is facing numerous internal and external challenges under the rapidly-changing environment in Northeast Asia. Russia is an important partner in both political and economic terms when resolving issues on the Korean Peninsula.Therefore, an open and future-oriented thinking should be incorporated into the new Russia policy.

Second, new mechanisms should be established to implement the new Russia policy. Holding summits on a regular basis will be the most effective way. At the same time, a control tower which directs and manages economic cooperation with Russia should be formed under the government. This will remarkably raise the efficiency of Korea – Russia cooperation.

Third, measures must be prepared for more active participation in Far East development. The Korean government needs to understand the strategic importance of the Far East. The current stagnant economic growth can be overcome through the creation of a "northern growth space." Eventually such efforts will contribute to bringing peace on the Korean Peninsula.

Most importantly, Korea needs to formulate its own original Russia strategy, keeping what is mentioned above in mind.

Keywords: Russia, Economic cooperation

Suggested Citation

Park, Joungho and Kang, Boogyun and Min, Jiyoung, Recent Development of Russia – Japan Economic Relations and Implications for Korea (January 29, 2018). KIEP Research Paper, World Economy Brief 18-03. Available at SSRN: https://ssrn.com/abstract=3112128 or http://dx.doi.org/10.2139/ssrn.3112128

Joungho Park (Contact Author)

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Boogyun Kang

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Jiyoung Min

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Register to save articles to
your library

Register

Paper statistics

Downloads
13
Abstract Views
145
PlumX Metrics
!

Under construction: SSRN citations will be offline until July when we will launch a brand new and improved citations service, check here for more details.

For more information