March 1995 No. 1

Headline

Realizing the critical reality of Segyehwa, the government has begun to reform policies and regulations to create a climate in which such a vision can succeed. At the same time, public and private institutions have begun to develop the manpower needed to meet the challenges of the new era. The Korea Foreign Trade Association's International Trade Institute is turning out specialists who will be in the vanguard of Segyehwa. In addition, Korea is courting more and more foreign manpower.

To support the development of new technologies and products, annual national research and development expenditures will be raised from the current 0.73% of GDP to 2.44% in 2005. As a result, Korea's global market share of high-tech products is expected to grow from 2.4% to 5.4% over the same period.

Guidelines toward Segyehwa for Korean companies operating overseas have been established by a wiseman's group composed of high-ranking representatives from the Korea Chamber of Commerce and Industry (KCCI), the Federation of Korean Industries (FKI), the Korea Foreign Trade Association (KFTA) and the Korea Federation of Small Business (KFSB). The nine guidelines are presented in a related story on

KOREA FOREIGN TRADE ASSOCIATION NEWSLETER

159-1 Samsong-dong Kangnam-gu Seoul, Korea
zip code 158-729, phone 82-2-551-0114, fax 82-2-551-5161