South Korea's Economic and Geopolitical Challenges

Barry Eichengreen
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Barry Eichengreen: University of California, Berekley

Industrial Economic Review from Korea Institute for Industrial Economics and Trade

Abstract: This article is part of a special series of contributions to Industrial Economic Review in celebration of KIET's 50th anniversary. This article was written by Barry Eichengreen, George C. Pardee and Helen N. Pardee Chair and Distinguished Professor of Economics and Political Science. Professor Eichengreen has written many influential books and papers on monetary policy and macroeconomics.

South Korea faces multiple economic and geopolitical challenges: threats to globalization, fissures between the United States and China, global financial volatility, demographic headwinds, and disruptive changes in technology. The country’s model of export-led growth based on manufacturing investment will have to change to meet these challenges. No single reform offers a magic bullet to solve these problems. Rather, reform will have to proceed on multiple fronts, something that is a challenge for any country but especially for one as politically divided as Korea.

Keywords: globalization; global value chains; global trade; competition; competition policy; macroeconomic policy; macroeconomics; competitiveness; competition policy; demographics; geopolitics; immigration; im (search for similar items in EconPapers)
JEL-codes: F13 F23 F52 (search for similar items in EconPapers)
Pages: 15
Date: 2026
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Published in KIET Industrial Economic Review Vol. 31, No. 2

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