A New Framework for Industrial Cooperation between Korea and the EAEU

5 Pages Posted: 23 Dec 2018

See all articles by Joungho Park

Joungho Park

Korea Institute for International Economic Policy

Dongho Yeom

Hankuk University of Foreign Studies

Boogyun Kang

Korea Institute for International Economic Policy

Jiyoung Min

Korea Institute for International Economic Policy

ChiHyun Yun

Korea Institute for International Economic Policy

Date Written: December 20, 2018

Abstract

As economic uncertainty escalates around the world, Korea is undergoing numerous challenges. The global economy is slowing down, and trade war between the U.S. and China is exacerbating the situation even further. Korea's trade dependency on major markets such as China, the US, EU, etc. is exposing its economy to more vulnerabilities. In order to resolve these challenges, Korea has to escape from the geographical isolation imposed by the division of the Korean Peninsula and diversify its partnerships with emerging economies.

Strengthening cooperation with the EAEU and securing new economic growth engines to replace old ones will serve as a way for Korea to overcome the current challenges. Indeed, the EAEU is an attractive partner as a window of new economic cooperation in developing future-oriented relations between Korea and the northern Eurasian countries. Since the two sides share characteristics in economic cooperation that are complementary to each other, it will also be necessary to pioneer such a "northern economic growth space" through strategically enhancing economic cooperation with the EAEU member states.

Against this backdrop, this paper analyzes the economic structure, development policy and industrial competitiveness of the EAEU and draws implications for Korea-EAEU industrial cooperation in the future.

Keywords: Korea, EAEU

Suggested Citation

Park, Joungho and Yeom, Dongho and Kang, Boogyun and Min, Jiyoung and Yun, ChiHyun, A New Framework for Industrial Cooperation between Korea and the EAEU (December 20, 2018). KIEP Research Paper, World Economy Brief 18-34. Available at SSRN: https://ssrn.com/abstract=3304929 or http://dx.doi.org/10.2139/ssrn.3304929

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)

Dongho Yeom

Hankuk University of Foreign Studies ( email )

270 Imun-dong Dongdaemun-gu
Seoul, 130-791
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)

ChiHyun Yun

Korea Institute for International Economic Policy ( email )

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

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