Lessons from South Korea's Economic Policy during the Global Financial Crisis

South Korea is recovering from the global financial crisis and ensuing recession much more quickly than most other countries. Byongwon Bahk, former senior economic advisor to Korean President Lee Myung-bak, will detail how Korea has been relatively successful in dealing with these acute problems, but he will argue that South Korea must implement major structural reforms if it is to sustain long-term growth. He will also explain why South Korea must draw lessons from the successes of its globally competitive manufacturing sector and apply them to weaker sectors such as financial services and agriculture. During the past decade, Mr. Bahk was in charge of the management of Korean macro-economic policy at the Ministry of Finance and Economy, reaching the level of vice minister, as well as served as a presidential advisor in Korea’s Blue House. Currently, Mr. Bahk is the Korean Studies Program's Koret Fellow at Stanford University.

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