Economic Lethargy: South Korea Needs a Second Wave of Reforms
Publication Date: December 2007
Publisher(s): Heritage Foundation (Washington, D.C.)
Keywords: Asia and the Pacific; Economic Reform; Lee Myung-bak; KORUS FTA
Coverage: Korea (South)
The economy of South Korea reflects a strengthening recovery, but inconsistent economic policies, lingering systemic deficiencies, and increasingly competitive rivals create significant long-term challenges. To avoid economic stagnation, South Korea should improve its investment environment through legislative reforms and implement structural reforms to increase the competitiveness and profitability of South Korean firms.