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Key Research Institute

Cooperation and Integration of Economic and Social Community in East Asia

The Key Research Institute (KRI), funded by the National Research Foundation of Korea, has entered the last third phase and is currently pursuing a comprehensive summarization of the project by integrating research conducted during the first and second phases and deepening research activities. Individual researchers have conducted research in diverse areas and they cooperated to seek the interrelatedness between each research within a larger framework.

Research Topics

In 2017, based on the concept of “East Asian community transcending the borders of the nation-state,” the KRI examined the present and future of the East Asian economic and
social community and explored the feasibility of sustainable development in the region. The KRI investigated on the prospects for the mutually beneficial East Asian community by focusing on the rise of China with the recognition of the dynamic transformations in the political, economic, and cultural power balances in the East Asian region. Specifically, in the field of economy, research has been conducted on the inflation rate for price stability, social welfare finances in East Asian nations, and process of assimilation of North Korean refugees in a market economy. Also, in the socio-cultural field, research has been conducted on sustainable development and states, cultural industry and cultural consumption, and social ecological system and environmental cooperation in East Asia.

Major Research Outcomes

In 2017, the KRI empirically investigated and theoretically analyzed the dynamic exchanges and transformations in cooperation in the East Asian region. In the above process, the two topics (i.e. economic and socio-cultural) were interconnected to obtain results that extend from the formation of economic community to the socio-cultural community. Through exploring the economic aspect of the East Asian community, the KRI have demonstrated increased regional economic cooperation and progresses in integration and as well through examining the socio-cultural aspect, such economic integration was shown to have advanced socio-cultural exchanges within the East Asian community and
made sustainable development feasible. Research on the aspects of advancement of Korean transnational corporation into the Chinese market has been conducted to support the formation and integration of the economic∙social∙cultural community in East Asia. The research outcomes were presented at the 10th International Convention of Asian Scholars (ICAS) in Thailand in July 2017. Lastly, research for developing composite indices that allow effective and intuitive comprehension of the diverse integrated aspects of the
East Asian community has been commenced.

Future Plans

In 2018, the KRI will make advancements in research by investigating on the diverse cases based on the research topics of 2017. The KRI will remain its continuity in research by discovering topics that will expand research outcomes of 2017. Regarding the economic aspects, the social capital and market economy support of North Korean refugees, the inflation rate in other East Asian nations aiming price stability, and the finance structure for aging population in the East Asian welfare finance will be examined. Finally, regarding the socio-cultural aspects, the emerging powers and the role of the state, tourism in Asia, development of East Asian socio-ecological system and environmental cooperation, and
SDG and the East Asian community will be explored.


Hunegnaw, F. B., & Kim, S. (2017). Foreign exchange rate and trade balance dynamics in East African countries. The Journal of International Trade & Economic Development, 26(8).

Kang, Y., Kim, B., & Lee, J. K. (2017). Interaction among new firm formation, privatization, and business environment in transition countries. Seoul Journal of Economics, 30(2).

An, Y. S., Huh, D. S., & Park, S. J. (2017). Effective governance to maximize ecosystem service in national forest management: A case of Gariwang-san, South Korea. Journal of Korean Geographical Society, 52(3).

Kim, Y., Tanaka, K., & Zhang, X. (2017). A Spatial analysis of the causal factors influencing China’s air pollution. Asian Journal of Atmospheric Environment , 11(3).

Kim, Y., Tanaka, K., & Matsuoka, S. (2017). Institutional mechanisms and the consequences of international environmental agreements. Global Environmental Politics, 17(1).

Kim, S., & Mehrotra, A. (2017). Managing price and financial stability objectives in inflation targeting economies in Asia and the Pacific. Journal of Financial Stability, 29.

Jeong, M., Kang, J., Kim S. (2017). Effects of government spending shocks in Japan, Korea, and China, China Economic Journal, 10(2).

Kim, B. Y., & Shida, Y. (2017). Shortages and the informal economy in the Soviet republics, 1965–89. The Economic History Review, 70(4).

Jung, Y., Kim, S., & Yang, D. Y. (2017). Optimal macroprudential policies and house prices in Korea. Emerging Markets Finance and Trade, 53(11).

Kim, J., & Kim, S. (2017). Effects of monetary policy shocks on farm prices and exchange rates in Korea. Emerging Markets Finance and Trade, 53(11).

Mo, Y., Lee, D. K., Song, K., Kim, H. G., & Park, S. J. (2017). Applying topographic classification, based on the hydrological process, to design habitat linkages for climate change. Forests, 8(12).

Kim, Y., Tanaka, K., & Ge, C. (2017). Estimating the provincial environmental Kuznets curve in China: A geographically weighted regression approach. Stochastic Environmental Research and Risk Assessment, 1-17.

Kim, J. Y., Ahn, D. H., & Ko, E. Y. (2017). Bond spreads, market integration and contagion in the 2007-2008 crisis. Seoul Journal of Economics, 30(1).

Kim, I. J., Kim, S. H., Kim, S. Y., Kim, J. I., & Shin, K. H. (2017). Financial stability, macroprudential policy tools, and the role of the Bank of Korea. Analysis of Korean Economy, 23(1).

Kim, S. Y., Min, K. H., & Lee, Y. S. (2017). Financial globalization and financial effective exchange rate in Korea. Journal of Economic Theory and Economics, 28.

Kim, B. Y. (2017). Unveiling the North Korean Economy -Collapse and Transition-. Cambridge University Press.

Kim, J. Y. (Trans.). (2017). Economics of Krugman (4th ed.). Sigmapress.

Lee, C. I. et al. (2017). Macro Economics (4th ed.). Hongmoon press.


SooJin Park (Dept. of Geography)

Myungkoo Kang (Dept. of Communication)
Byungyeon Kim (Dept. of Economics)
Soyoung Kim (Dept. of Economics)
Chulin Lee (Dept. of Economics)
Haeran Lim (Dept. of Political Science & Int’l Relations)
Jaeyoung Kim (Dept. of Economics)

Research Fellows:
Sunggyu Kim (SNUAC)
Yoomi Kim (SNUAC)
Il-Hong Ko (SNUAC)
June Park (SNUAC)
Jongho Kim (SNUAC)

Research Assistants:
Seungmok Han (SNU)
Tamura Fuminori(SNU)