ABSTRACT
The Kim Young Sam has demonstrates a significant level of interest in the issue which has assisted considerably in the implementation of changes leading to a more market oriented policy. The period has characterises by an environment in which international economic issues have moved to the top of the international agenda. The recommendations of these reports were further supported by some of the findings of the Swiss based International Institute for Management Development which in its study of the international competitiveness of 41 countries rated Korea 25th overall but 30th in terms of the policy environment. The first major policy initiatives of the Kim Young Sam government to liberalise foreign investment in line with a more market oriented approach occurred within the first few months of term. The view of those favouring a more interventionist approach was that tax incentives should be provides at a generous level as well as special facilities such as high technology parks.
