Korea 's Economic Adjustment And Its Impact On Korea - US Economic And Trade Relations

The Republic of Korea economy has become a major force in the time of economic globalization. But in the early days of the new nation, The Republic of Korea economy’s development is very backward. It can sustain the development of the national economy only by replying on USA’s Aid. Within a few short decades, the Republic of Korea economy grew rapidly and has maintained a stable development momentum. The reason is that the government made adjustment timely on their economy policy at different times.Especially since President Park Chung-hee administration, the Republic of Korea economy has been reformed(a series of policies in government-dominant economic system, industry, agriculture, trade, finance and so on) and laid the foundation for the "Han River miracle". But the Asian financial crisis, quickly spread to the Republic of Korea, the Republic of Korea economy suffered heavy losses. Although previous governments like Kim Dae-Jung carried out economic reform, the Republic of Korea?s economic development is not obvious. After Park Geun-hye taking office, she has made new adjustments on the Republic of Korea ?s economic policy and pointed out the direction for the further development of Korean economy. Form the current economic development situation point of view, the Republic of Korea economic development situation point of view, the Republic of Korea economy is in a slow recovery period of growth. Although the presidents of the Republic of Korea made different effect on adjusting economic policy, on the whole it still has played a certain positive role on Korean economy. Meanwhile being an important role in development of the Republic of Korea economy, USA maintained close contact with the Republic of Korea economy since the early founding of the Republic of Korea. And the Republic of Korea-USA Free Trade Agreement came into effect on March 15 th, 2012, making the Republic of Korea-USA economic and trade relations enter a new stage. This change has inalienable relations with the Republic of Korea’s economic policy adjustments. This paper mainly sorts from the macro of economic policy in the Republic of Korea, and researches how the Republic of Korea’s economic policy adjustments affect the Republic of Korea-US economic and trade relation. Hope this will have some positive significance for Chinese economy development.