We are pleased to announce Korea Institute for Industrial Economics & Trade has started an Economics Research Centers Papers series within the Economics Research Network (ERN).

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The Korea Institute for Industrial Economics & Trade (KIET) is Korea's only national policy research institution that specializes in studying the nexus where global trade and industry intersect.

First established in 1976 to support the industrial development of the Korean economy and to promote the expansion of trade, KIET has for nearly a half-century served as Korea's preeminent think tank for industry and trade policy, and has since its inception focused on enhancing national competitiveness and bolstering industrial resilience in response to changes in the global industrial environment.

Industrial trends continue to shift at a breakneck pace. The future now hurtling toward us is one in which industry, society, and individuals are hyper-connected and move as one: an intelligent information society, brought about by the development of the Fourth Industrial Revolution.

Amid these changes, Korean industry must secure core competencies and flexible adaptability to remain competitive and survive in the global marketplace. To aid industry in meeting these ends, we work to form developmental strategies for the manufacturing industries of the future, focusing on manufacturing and service convergence, regional innovation ecosystems, overall industrial development, and job creation. In addition, our organization is taking the lead in formulating measures for building a growth ecosystem for small- and medium-sized enterprises (SMEs) and venture firms and drawing up plans to promote expanded trade and deeper trade cooperation.

Furthermore, we are dedicating significant resources to the study of carbon neutrality, a major force driving industrial transformation in our time. Ongoing projects include research on industry-specific response strategies, carbon border adjustments, and carbon taxes, among others. Going forward, we will endeavor to contribute to the development of sustainable industry, job creation, and export growth through research on industrial policy and institutional reform.

We are also committed to bringing about the kind of industrial conditions necessary to make possible a virtuous cycle for business activity nationally, while enhancing the competitiveness of regional industries and startups. Moreover, we will work to help Korea meet emissions targets outlined in its 2030 Nationally Determined Contributions (NDCs) and achieve the goals of the country's Long-term Emission Development Strategies 2050 (LEDS 2050) initiative.

Finally, we are striving to develop a vision for the shape of Korean industry to come in response to the generational changes happening now, and in doing so, playing an important role in advancing the country's industrial structure. As part of these efforts, we are working to activate global networks and make the leap from regional player to global think tank. Visit kiet.re.kr/en for more.


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Michael C. Jensen
Economics Research Network

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