Yoon-Jong Jang

The book is the first attempt to offer a holistic and integrated exploration of the political-economic framework underpinning economic regionalism. In doing so it provides a much-needed contribution to the literature on international political economy, international relations and Asian political economy in relation to economic regionalism. The existing literature provides broad generalizations and limited discussion on economic integration (i.e. free trade agreements, FTA) with most analyses of regionalism generally contained to the field of economics with a focus on the welfare implications of FTAs, both for participating countries and the world as a whole. Readers of this book can view economic regionalism from a variety of perspectives with input from Chinese, Japanese and Korean research institutes, business and industry groups, and government officials. Drawing on the considerable country experience and expertise of the authors, the book attempts to unravel the paradox of the market-driven economic globalization process (regionalism) and address a serious gap in the current literature relating to the political-economic characteristics and strategies of China, Japan and Korea in relation to economic regionalism.

The book is the first attempt to offer a holistic and integrated exploration of the political-economic framework underpinning economic regionalism. In doing so it provides a much-needed contribution to the literature on international political economy, international relations and Asian political economy in relation to economic regionalism. The existing literature provides broad generalizations and limited discussion on economic integration (i.e. free trade agreements, FTA) with most analyses of regionalism generally contained to the field of economics with a focus on the welfare implications of FTAs, both for participating countries and the world as a whole. Readers of this book can view economic regionalism from a variety of perspectives with input from Chinese, Japanese and Korean research institutes, business and industry groups, and government officials. Drawing on the considerable country experience and expertise of the authors, the book attempts to unravel the paradox of the market-driven economic globalization process (regionalism) and address a serious gap in the current literature relating to the political-economic characteristics and strategies of China, Japan and Korea in relation to economic regionalism.

One of the most spectacular phenomena in the South Korean political economy has been the remarkable escalation of international capital investment or inward foreign direct investment (FDI) in Korea. This book provides an in-depth look at the evolution of FDI in Korea, from the late 1990s to the present day. Charting Korea’s transition from state-led capitalism to a more liberalized market, this book assesses the complex interplay between government policy, foreign capital inflows, and multinational corporations (MNCs). It analyses the key economic policies of the past as well as more recent measures by the Moon Jae-Jin and Yoon Suk-Yeol administrations. The book then conducts an analysis of the socio-economic, cultural and political dynamics that shape strategies of MNCs today. The book draws on 36 interviews with CEOs of foreign companies operating in Korea, to seek their insights into the realities of doing business in Korea. It closes by highlights the current challenges Korea faces today in integrating into the international economy and suggests solutions for sustaining its economic growth. This book will appeal scholars of political economy, Korean studies, and economic development. It will also interest business leaders and policymakers seeking deeper understanding of insights into Korea’s economic climate.