10. Direct export subsidies for selected industries
(no longer in use).
11. Monopoly rights granted to the firm first to
achieve exports in targeted industries.
12. Subsidized interest rates and preferential credit
access for exporters in selected industries, including
automatic access to bank loans for the
working capital needed for all export activities.
Medium- and long-term loans for investment
were rationed and often available only to firms
that meet government export targets and pursue
other requested activities.
13. A system of export credit insurance and guarantees,
as well as tax incentives, for overseas
marketing and postshipment export loans by
the Korean Export-Import Bank.
14. The creation of free-trade zones, industrial
parks, and export-oriented infrastructure.
15. The creation of public enterprises to lead the
way in establishing a new industry. Howard
Pack and Larry Westphal found that “the share
of public enterprises in [South] Korea’s nonagricultural
output is comparatively high, being
similar to India’s.”
16. Activities of the Korean Traders Association
and the Korea Trade Promotion Corporation to
promote South Korean exports on behalf of
South Korean firms worldwide.
17. General orchestration of sectorwide efforts to
upgrade the average technological level through
the use of a new generation of machinery.
18. Government coordination of foreign technology
licensing agreements, using national bargaining
power to secure better terms for the private sector
in utilizing proprietary foreign technology.
19. The setting of export targets for firms (since the
early 1960s). Firms set their own targets, which
could be adjusted by the government.
10. Direct export subsidies for selected industries
(no longer in use).
11. Monopoly rights granted to the firm first to
achieve exports in targeted industries.
12. Subsidized interest rates and preferential credit
access for exporters in selected industries, including
automatic access to bank loans for the
working capital needed for all export activities.
Medium- and long-term loans for investment
were rationed and often available only to firms
that meet government export targets and pursue
other requested activities.
13. A system of export credit insurance and guarantees,
as well as tax incentives, for overseas
marketing and postshipment export loans by
the Korean Export-Import Bank.
14. The creation of free-trade zones, industrial
parks, and export-oriented infrastructure.
15. The creation of public enterprises to lead the
way in establishing a new industry. Howard
Pack and Larry Westphal found that “the share
of public enterprises in [South] Korea’s nonagricultural
output is comparatively high, being
similar to India’s.”
16. Activities of the Korean Traders Association
and the Korea Trade Promotion Corporation to
promote South Korean exports on behalf of
South Korean firms worldwide.
17. General orchestration of sectorwide efforts to
upgrade the average technological level through
the use of a new generation of machinery.
18. Government coordination of foreign technology
licensing agreements, using national bargaining
power to secure better terms for the private sector
in utilizing proprietary foreign technology.
19. The setting of export targets for firms (since the
early 1960s). Firms set their own targets, which
could be adjusted by the government.
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