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The Improvement of Korea's New Northern Economic Cooperation Governance: Focusing on Russia

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Marking the 30th anniversary of the establishment of diplomatic ties between Korea and Russia, this study aims to suggest policy proposals to improve Korea's economic cooperation governance with Russia. This study analyzes the structure and features of Russia's international economic cooperation governance as well as cases of economic cooperation governance with Russia in four major countries (China, Japan, German and Vietnam). In addition, we conducted a survey of experts at home and abroad on their evaluation of Korea’s economic cooperation governance with Russia. Based on the analysis, this study presents five policy proposals to improve Korea's economic cooperation governance with Russia. 1) Reorganize the Korea-Russia Joint Committee on Economic, Scientific and Technological Cooperation and its sub-committees; 2) Restructure and revitalize public-private and private consultative bodies for economic cooperation; 3) Successfully utilize financial assistance mechanisms and consider launching a cooperation fund; 4) Establish a K-business center; and 5) Strategically utilize the major international forums organized by Russia.

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  • Park, Joungho & Jeong, Minhyeon & Kang, Boogyun & Jeong, Dongyeon & Kim, Chorong & Jeh, Sunghoon & Lukonin, Sergey & Zaklyazminskaya, Ekaterina, 2020. "The Improvement of Korea's New Northern Economic Cooperation Governance: Focusing on Russia," World Economy Brief 20-27, Korea Institute for International Economic Policy.
    • Handle: RePEc:ris:kiepwe:2020_027
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    Keywords

    Korea; Russia; New Northern Policy; economic cooperation; governance;
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