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Archive for травня 16, 2024

At an invitation to Korea – by feelings and understanding

In April, the Head of the Sector of International Financial Relations of the Public Finance Department Doctor of Economics at this Institute, Professor Olena Borzenko saw with her own eyes the "miracle on the Han River" (that's how they call the South Korean economic miracle of the second half of the 20th century), at the invitation of the Korea Foundation (KF) during her visit to the Republic of Korea together with representatives of the USA, Indonesia, Tanzania, Senegal, Jordan, Yemen and Slovakia.

            Each invited participant was personally greeted by the President of the Korea Foundation, Amb. Gheewhan Kim.

At the Korea Trade and Investment Agency

            Representatives of the Federation of Korean Industries (FKI) visually introduced the guests to the macroeconomic indicators of the Republic of Korea over the last more than 60 years (since 1961), stressing that industrial business, and domestic investors restored the country side by side with state institutions. And representatives of the global marketplace (e-commerce platform) - the Korea Trade-Investment Promotion Agency (KOTRA), which has a branch in Kyiv - describe how they are helping Korean businesses grow at the international level today.

O. Borzenko at the National Bank of Korea

            At the National Bank of Korea, guests were shown the presentation on "The Financial System of North Korea and Modern Economic Problems" with a comparison of macroeconomic indicators, exchange rate dynamics, living standards and education of North Korea (Democratic People's Republic of Korea) and South Korea (Republic of Korea).

At the Space Technology Center of SK Telecom

            Participants of the exchange program of the Korea Foundation had the opportunity to verify this by visiting a number of organizations, including the Global Knowledge Exchange & Development Center in Seoul. At the Hyundai Research Institute (HRI), the visitors were shown a car of the future, the fuel for which is hydrogen obtained from water, and at the Space Technology Center of SK Telecom ( is 'Technology, U-topia, Museum') - a new world where everything is connected with services based on artificial intelligence.

Olena Borzenko and Mingyeon Jong

            Within the Korea Foundation program, Doctor of Economics, Professor Olena Borzenko met with South Korean scientific colleagues - Professor of the Department of Economics at Seoul National University Bonggeun Kim and Researcher from the Korea Institute of International Economic Policy Minhyeon Jeong. They emphasized that it was high school, education, science and innovation that became the driver of the recovery of the Republic of Korea, and the main component of the "Miracle on the Han River" is a hard, conscious and selfless work.

            During the visit, a preliminary agreement was reached on the signing of memorandums of cooperation between the Institute for Economics and Forecasting of NAS of Ukraine and the Department of Economics of Seoul National University, as well as between the Institute for Economics and Forecasting of NAS of Ukraine and the Korea Institute of International Economic Policy (KIEP). These documents will provide for the implementation of joint projects, holding international conferences, seminars and round tables, and publishing international monographs and collections of scientific works.

Korean Demilitarized Zone

            At the end of the visit, the guests visited the two-kilometer Korean Demilitarized Zone (DMZ) between the Republic of Korea and the Democratic People's Republic of Korea.

More information – on the NAS website of Ukraine

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