{
  "id": "RS20041",
  "type": "CRS Report",
  "typeId": "REPORTS",
  "number": "RS20041",
  "active": false,
  "source": "EveryCRSReport.com",
  "versions": [
    {
      "source": "EveryCRSReport.com",
      "id": 102432,
      "date": "1999-02-01",
      "retrieved": "2016-05-24T20:47:08.835941",
      "title": "South Korea's Economic Prospects",
      "summary": "As South Korea has completed a full year of restructuring under an International Monetary Fund\n(IMF) imposed program, the prospects for a sustained economic recovery are mixed. While the\nfinancial crisis that broke out in October 1997 has been alleviated, the contraction of South Korea's \neconomy intensified in 1998. A significant drop in Gross National Product, as well as a rapid\nincrease in unemployment, has precipitated Seoul's most serious economic and social crisis since\nthe end of the Korean War. To return the economy to a healthy growth trajectory, the government\nis attempting to reform the financial and corporate sectors, as well as to create more flexibility in\nlabor markets. Analysts now predict that the South Korean economy might resume growth in the last\nquarter of 1999. South Korea's economic crisis, in turn, is having both short and long term\nconsequences for U.S. economic interests. Short term, the United States is experiencing a rising\ntrade deficit with South Korea, as well as increased conflict on a number of sectoral trade issues. \nLonger term, however, the reforms that Seoul is implementing have the potential to make it a much \nmore open, important, and stable trade partner. This report will be updated periodically. A related\nCRS report is  Korea: U.S.-South Korean Relations Issues for Congress , CRS Issue\nBrief 98045.",
      "type": "CRS Report",
      "typeId": "REPORTS",
      "active": false,
      "formats": [
        {
          "format": "PDF",
          "encoding": null,
          "url": "http://www.crs.gov/Reports/pdf/RS20041",
          "sha1": "01135bca9a2e8b23dbff341dbc49dc429d9afdd4",
          "filename": "files/19990201_RS20041_01135bca9a2e8b23dbff341dbc49dc429d9afdd4.pdf",
          "images": null
        },
        {
          "format": "HTML",
          "filename": "files/19990201_RS20041_01135bca9a2e8b23dbff341dbc49dc429d9afdd4.html"
        }
      ],
      "topics": []
    }
  ],
  "topics": [
    "Foreign Affairs",
    "National Defense"
  ]
}