Trade Policy in1980s with Special Reference to the Technology Import Policy for Export Promotion

Abstract

Last Year Korea has achieved the target of $ 10 billion exports. According to the Long-term Economic and Social Development Plan, Koreas exports will be increased to $ 115 billion by 1991. It is obvious that, in order to achieve this target, Korea cannot rely on the traditional labor-intensive products.

Thus, Korea is placing a great emphasis on developing technology-and skill-intensive industries, including electronics, machinery, shipbuilding, and petrochemicals. The relative importance of these exports is expected to .account for more than 70 percent by 1991. Development of such industries necessitates domestic R&D activities and importation of foreign technology .on a large scale. In other words, Koreas sustained export promotion in 1980s will crucially depend on the ability of business firms and government institutions to organize and adopt modern technology.