The chapter have been developed from papers presented at
the conference on "Korea`s Choices in an Emerging Global
Competition and Cooperation." The Korea Development Institute
and the East-West Center in Honolulu jointly sponsored the
conference in Kahuku, Oahu, Hawaii, during 23-26 July 1995.
The final chapter has been updated to reflect new changes in
economic environments.

This volume examines even seven major policy reform
areas, and outlines Korea`s choices in the rapidly changing
global economic environment. The reforms proposed in this book,
if properly implemented, will play a critical role in restructuring
Korea`s political economy for the move onto a higher growth
path. Each chapter is devoted to one reform topic, ranging from
macroeconomic policy to micro-level R&D strategies.

Ⅰ. Reorganization of Korea's Macroeconomic Management,
Sung-Hee Jwa
Ⅱ. The Nature of the National Economy in the Borderless
World and the Role of the Government, Jungho Yoo
Ⅲ. Industrial Structural Changes and Enhancing Competitiveness,
Kyoung-Hwie Mihn
Ⅳ. Korean Multinationals in the Pacific Basin: A Comaprative
Study of Foreign Investment and Trade Strategies, Dennis
J.Encarnation
Ⅴ. Creating Extrafirm Infrastructure of Institutions for Small
and Medium-Sized Businesses, Joon-Kyung Park
Ⅵ. Corporate Governance: The Structure and Issues in Korea,
Young-Ki Lee
Ⅶ. Building Scientific and Technological Infrastructure,
Won-Young Lee
Ⅷ. Conclusions and Challenges