Korean trade financing policy is closely related to the system of export support financing.
Therefore this paper considered the distinctive featurer the present situation, and the problem of Korean trade financing policy through the phenomenal analys...
Korean trade financing policy is closely related to the system of export support financing.
Therefore this paper considered the distinctive featurer the present situation, and the problem of Korean trade financing policy through the phenomenal analysis laying stress on the present system of export support financing, and studied the future-oriented course of Korean trade financing policy for the continuous enlargement of export and the improvement of national economy. Generally the distinctive feature of Korean trade is to be the dual cycle structure between export industry and internal trade-oriented industry. This became the source of monopolistic capital profit.
In 1950's the distinctive feature of Korean trade financing policy was the inefficiency and the lack of independence under the influence of foreign assistance.
Because of concentrating on the arrangement necessary for receipt of foreign assistance, economic life of the populace was stiffened. The preferential treatment of large enterprises and the sacrifice of agricultural fields were forced.
Thereafter these have affected the character of Korean trade policy. In 1960's the distinctive feature of Korean trade was the intial stage of international division of labor exporting it into advanced countries like a the United Stated to process the parts or half-finished products importing from Japan.
At that time the main export industry was the texitile industry. In 1970's Korean trade shifted from the export of the texitile products to the export of the heavy chemical industrial products. As a result the character rearing the large enterprise was reinforced in Korean trade financing policy.
In the large enterprise the preferential treatment was given by the special financing support for export industry, the import financing of the main raw materials, the export financing, the simplification of the ex post facto control, and so forth.
But the enlargement of trade liberalization was a serious blow to the middle and small petty enterprise.
In this changing process of Korean trade the export support financing of our country has deepened the dual structure of trade because of the preferential support for the large enterprise, that is, the foreign capital enterprise.
Particularly the enterprise of our country which had a lack of funds and a low productive capacity has assumed the trade pattern depending on the loan and the direct investment of foreign enterprise. Our export support financing has played the role supporting this present situation indirectly.
As a result the foreign dependency of the national economy was deepened, and the insolvent enterprise was appeared by the bankruptcy of the middle and small enterprise and the collusion of the large enterprise with the international capital.
What is worse, the negative effect,-that is, the adhesion of politics and economics, the estrangement of consuming public, the ruin of adoriginal capital, the decline of volition for technical development, and so forth-was appeared.
Accordingly the course of new trade financing policy of our country is as follows.
First, for the balanced development between the export industry and the internal trade-oriented industry the dual cycle structure of Korean trade should be improved by the structural improvement of exchange rate policy and bank-rate policy.
Secondly, for the Diversification of export structure and the establishment of self-supporting economy structure the export support system for the middle and small enterprise should be rein forced.
Lastly, for the settlement of the foreign dependency the Korean trade structure the territory of national economy should be expanded through the closer connection between the internal structures of vertical and horizontal division of labor.