Dong-won Lim
Head of Economic Research Center
Jin-sung Yoo
Head
Min-Hee You
Head
Wonkyu Shin
Head
Tae Kyu Lee
Senior Research Fellow
Seung-suk Lee
Research Fellow
Yeongwoong Do
Research Fellow
Kim, Byunghoon
Research Fellow
Jeong, Youngjae
Research Fellow
Jinju Rhee
Research Fellow
Saera Oh
Research Fellow
Jun-Hyung Lee
Visiting Research Fellow
Jong-Hoon Han
Director
Joo-hyung Park
Deputy Manager
Tae Soo Kang
Distinguished Research Fellow
Innwon Park
Senior Visiting Fellow
Jaewoo LeeJaewoo Lee
Senior Visiting Fellow
Yoon Heo
Senior Visiting Fellow
Jungmin Lee
Senior Visiting Fellow
Jaerim ChoiJaerim Choi
Senior Visiting Fellow
Economic Research Center
Lim, Dong-won, and Moon, Sung-hoon (2022), “Rationalizing the Taxation of Derivatives: Focusing on the Introduction of Financial Investment Income Tax,” IFA Korea Journal, Vol. 38, No. 1.
Oh, Yoon, Lim, Dong-won, and Moon, Sung-hoon (2021), “Improvements to the Taxation of Short Selling,” Korean Journal of Taxation Research, Vol. 38, No. 4.
Lim, Dong-won (2021), “Controversy over the Global Corporate Minimum Tax, Tax on the Wealthy, and their Implications,” Korean Social Science Journal (KSSJ), 48-2.
Moon, Sung-hoon, and Lim, Dong-won (2021), “Evaluation of Current Individual Savings Accounts (ISA) and Tax Policy Tasks,” Tax and Law, Vol. 14, No. 1.
Moon, Sung-hoon, Lim, Dong-won, and Oh, Yoon (2019), “Current Status of Overseas Corporate Exit Tax Systems and Plans for Domestic Introduction,” Hanyang Law Review, Vol. 36, No. 1.
Oh, Yoon, and Lim, Dong-won (2019), “A Study on the Introduction of Mandatory Disclosure Rules for Aggressive Tax Planning,” IFA Korea Journal, Vol. 35, No. 1.
Jeon, Byung-wook, and Lim, Dong-won (2016), “A Study on the Calculation of Real Estate Tax Base in Tax Law,” Korean Journal of Taxation Research, Vol. 33, No. 2.
Macroeconomic Research Team
Yoo, Jin-sung (2023), “The Effect of the 52-Hour Workweek System on Corporate Performance,” Journal of Regulation Studies, Vol. 32, No. 2.
Yoo, Jin-sung (2022), “Analysis of Fertility Rates by Income Level and Policy Implications,” Journal of Social Science, Vol. 41, No. 3.
Yoo, Jin-sung (2021), “Employment Effects of the 2018 Minimum Wage Hike and Implications,” Journal of Regulation Studies, Vol. 30, No. 1.
Yoo, Jin-sung (2019), “Impact of the Irregular Employee Protection Act on Employment of Vulnerable Groups,” Journal of Regulation Studies, Vol. 28, No. 1.
Innovation Economy Research Team
You, M., & Park, W. (2026). User Support Services and Transparency in Public Finance Information Systems: Evidence from Korea’s e-Naradoum. Information Technology for Development, 32(1), 3.
You, Min-Hee, Kim, Sang-Hyun, and Kim, Ji-Young (2025), “The Effect of Economic Preferences on Eco-friendly Attitudes and Behaviors,” Journal of Business Convergence, Vol. 10, No. 1.
You, Min-Hee, Choi, Yoon-Jung, and Kim, Ji-Young (2022), “Perception of Economic Inequality and Preference for Government Policy: The Experience of COVID-19,” Journal of Women and Economics, Vol. 19, No. 2.
You, Min-Hee, Choi, Yoon-Jung, and Kim, Ji-Young (2022), “Impact of the COVID-19 Social Distancing Policy on the Exit and Entry of Stores in South Korea,” Korea and the World Economy, 23(1), 57-75.
Kim, Ji-Young, You, Min-Hee, and Choi, Yoon-Jung (2020), “The Effect of Perception of Economic Inequality on Government Policy Preferences: Focusing on Endogenous Ordered Probit Model,” East and West Studies, Vol. 32, No. 4.
Choi, Yoon-Jung, Kim, Ji-Young, and You, Min-Hee (2020), “Radius Restriction and Firms' Survival: Evidence from the Coffee Franchise Industry,” Contemporary Economic Policy, 38(3), 496-514. (SSCI)
You, Min-Hee, Kim, Ji-Young, and Choi, Yoon-Jung (2018), “Best Practice Guidelines and Sales Territory Infringement: Focusing on the Korean Coffee Franchise Industry,” Journal of Regulation Studies, Vol. 27, No. 1.
Global Economic Research Team
Shin, Wonkyu, and Choi, C. (2025), “Evolutionary State-Private Partnerships in the Electronics Global Value Chain (GVC) of the Asian Developmental State,” Journal of Economic Integration, 40(4), 605-630.
Shin, Wonkyu, Han, S.H., and Song, J.S. (2023), “A Study on ODA Recipient Systems: Focusing on Korea's Priority Partner Countries in Asia (Laos, Indonesia, Vietnam),” International Development and Cooperation Review, 15(4), 23-41.
Shin, Wonkyu (2022), “The Rise of New Cold War: Transformation Process of Global Value Chains through the Technology-Security-Value Nexus,” Monthly Software Oriented Society, Software Policy Research Institute (SPRI), 101(11): 2-11.
Shin, Wonkyu, and Roh, J.Y. (2019), “Utilization and Tasks of Trade Remedies in the Era of Low Growth,” Korean Journal of International Economic Law, Vol. 2, July.
Jeong, M.S., and Shin, Wonkyu (2019), “Win-Win Trade Cooperation with Developing Countries using ODA in Import Inspection and Certification of Agro-fishery Products,” Journal of Korea Trade, Vol. 44, No. 2.
Shin, Wonkyu, and Ahn, D. (2019), “Trade Gains from Legal Rulings in the WTO Dispute Settlement System,” World Trade Review, 18(1): 1-31, Cambridge Univ. Press.
Lechevalier, S., Debanes, P., and Shin, Wonkyu (2019), “Financialization and Industrial Policies in Japan and Korea: Evolving Complementarities and Loss of Institutional Capabilities,” Structural Change and Economic Dynamics, 48(C): 69-85, Elsevier.
Shin, Wonkyu, Kim, Y., and Sohn, H.S. (2017), “Does Implementation Partnership with Non-State Actors Improve Performance? Evidence from World Bank Project-Level Evaluation Data,” World Development, 95: 268-284, Elsevier.
Shin, Wonkyu, and Ahn, D. (2017), “Firm’s Responsive Behaviors in WTO Trade Disputes: Countervailing Cases on Korean DRAMs,” Journal of World Trade, Vol. 51, No. 4: 605-644, Wolters Kluwer.
Messerlin, P., and Shin, Wonkyu (2017), “The K-Pop Success: How Big and Why So Fast?,” Asian Journal of Social Science, 45(4-5): 409-439, Brill.
Shin, Wonkyu, Lee, K., and Walter G. Park (2016), “When an Importer’s Protection of IPR Interacts with an Exporter’s Level of Technology: Comparing the Impacts on the Exports of the North and South,” World Economy, 39(6): 772-802, Wiley.
Economic Research Center
Jwa, Sung-Hee, and Taekyu Lee (2025), “Economic Stagnation and Inequality: A New Development Economics Perspective,” Digital Economy and Sustainable Development, Vol. 3, No. 10.
Jwa, Sung-Hee, Cho, Sung-Jong, and Taekyu Lee (2025), “Causes and Countermeasures for Low Growth and Worsening Distribution in the Korean Economy,” Korea Economic Forum, Vol. 18, No. 1, pp. 55-103.
Jwa, Sung-Hee and Taekyu Lee (2022), “A Study on the Failure of the Redistributive Welfare State and the Corporate-Led Welfare Economy,” Institution and Economics, Vol. 16, No. 3, pp. 19-61, Aug. 2022.
Macroeconomic Research Team
Lee, Seungsuk (2016), “Risk Shock, Financial Frictions, and Housing Market Fluctuations.”
Lee, Seungsuk (2015), “Economic Risk and Housing Market Spillovers: An Empirical Evidence from the U.S.”
Lee, Seungsuk (2014), “The Determinants of Housing Price Fluctuation in Developing Country: A Global Effect and Co-movement in Housing Prices.”
Macroeconomic Research Team
Do, Y., "Effects of Monetary Policy on the Wealth Inequality", Economics Letters, Vol. 255, 2025
Do, Y., "CBDC and Card Payment Market", BOK Economic Analysis, Vol. 28, No.4, 2022
Innovation Economy Research Team
Global Economic Research Team
Innovation Economy Research Team
Global Economic Research Team
Sunghun Lim and Saera Oh. 2024. ”Geopolitical Risks and Agricultural Trade Diversification in Southern Africa: Port-level Evidence from the Russia-Ukraine War.” Journal of the Agricultural and Applied Economics Association 3 (4): 724-39
Innovation Economy Research Team
"Knowledge Spillover Network and Optimal R&D Policy in Oligopoly, 2026, Journal of Public Economic Theory 28 (4), e70128.
"Contests with Imperfectly Enforced Caps", 2026, with Sung-Ha Hwang and Youngwoo Koh, Forthcoming at Global Economic Review.
Economic Research Center
Global Economic Research Team
Global Risk Management Team
Kang, Tae Soo, and Kim, K. (2020), “Determinants of Foreign Currency Deposits and Their Relationship with Exchange Rate Volatility,” International Finance Review.
Kang, Tae Soo, and Kim, K. (2019), “Push vs. Pull Factors of Capital Flows Revisited: A Cross-country Analysis,” Asian Economic Papers, Vol. 18, No. 1, MIT Press.
Kang, Tae Soo, and Seo, H. (2019), “Impact of U.S. Monetary Policy on Domestic Financial Markets and Capital Flows: A TVP-VAR Model Analysis,” Economic Analysis, Vol. 25, No. 2, Bank of Korea.
Kang, Tae Soo, and Seo, H. (2017), “Asset-based Reserve Requirements in a DSGE Model,” Asian Economic Papers, Vol. 16, No. 2, MIT Press.
Kang, Tae Soo, Kim, H., and Jeong, Y. (2013), “Unintended Consequences of Macro-prudential Policy Instruments,” Current Financial Stability Issues, Vol. 3, No. 1, Bank of Korea.
Kang, Tae Soo, and Ma, Guonan (2007), “Recent Episodes of Credit Card Distress in Asia,” BIS Quarterly Review, June, pp. 55-68, Bank for International Settlements (BIS).
Kang, Tae Soo, and Kim, Y. (2002), “Effectiveness of the Signaling Channel of Monetary Policy,” Journal of Money and Finance, Vol. 16, No. 2.
Kang, Tae Soo, and Ferri, Giovanni (1999), “The Credit Channel at Work: Lessons from the Financial Crisis in Korea,” Economic Notes, Vol. 28, No. 2, pp. 195-221.
Global Risk Management Team
Park, Inwon, and Park, Soonchan (2025), “The Spillover Effect of Global Uncertainty through Input–Output Linkage,” The World Economy, Vol. 48, Issue 2, pp. 373-401.
Park, Inwon, and Ouyang, Wanting (2024), “Estimating the Extensive Margin of Exports in the Chinese Market: The Impact of Digital Trade Facilitation on Export Diversification,” International Area Studies Review, Vol. 27, No. 2, pp. 95-121.
Park, Inwon, and Park, Soonchan (2023), “Firm Size-Specific Trade Effects of Regional Trade Agreements: Estimating Extensive and Intensive Margins of Trade,” Asian Economic Journal, Vol. 37, Issue 1, pp. 82-112.
Park, Inwon, and Kang, Moonsung (2022), “Korea's Trade Policy and Performance in Turbulent Times,” The World Economy, Vol. 45, Issue 11, pp. 3384–3397.
Park, Inwon, Chung, Chul, and Park, Soonchan (2022), “Estimating the Impact of Cumulative Rules of Origin on Trade Costs: An Application to Mega-regional Free Trade Agreements in the Asia-Pacific Region,” Asian Economic Papers, Vol. 21, Issue 1, pp. 92-109.
Park, Inwon, and Lee, Ga Eun (2021), “An Ex-post Analysis of Trade Effects of the ASEAN–Korea Free Trade Area (AKFTA) from Korea’s Perspective,” International Area Studies Review, Vol. 24, Issue 4, pp. 292-313.
Park, Inwon, and Park, Soonchan (2021), “The Value-added Creation Effect of Industry Position in Global Value Chains: Implications for Asia-Pacific Economies,” Asian-Pacific Economic Literature, Vol. 32, Issue 2, pp. 95-122.
Park, Inwon, and Park, Soonchan (2021), “Socio-Political Determinants of Interdependent Regional Trade Agreements: An Empirical Application,” Singapore Economic Review, Vol. 66, Issue 3, pp. 721-742.
Park, Inwon (2020), “Regional Trade Agreements in East Asia: Past and Future,” Development Policy Review, Vol. 38, Issue 2, pp. 206–225.
Park, Inwon, Kang, Moonsung, and Rhee, Dong-Eun (2017), “Korea’s Growth-driven Trade Policies: Inclusive or Exclusive?,” The World Economy, Vol. 40, Issue 11, pp. 2475–2490.
Former Assistant Director, IMF Research Department
Dominant Drivers of Current Account Dynamics, joint with Lukas Boer and Mingzuo Sun, (IMF Working Paper 24/92), Journal of International Economics, 2026.
Aging and Inflation --- Regional Evidence from Japan and the US, joint with Hiroaki Miyamoto and Jungjin Lee, Economics Letters, 2024.
Demographics and Interest Rates in Asia, joint with Serkan Arslanalp and Umang Rawat, (IMF Working Paper 18/172), Japan and the World Economy, 2019.
China and Asia in Global Trade Slowdown, joint with Gee Hee Hong, Wei Liao, and Dulani Seneviratne (IMF Working Paper 16/105), Journal of International Commerce, Economics and Policy, 2017.
The Valuation Channel of External Adjustment, joint with Fabio Ghironi and Alessandro Rebucci, Journal of International Money and Finance, 2015.
International Macroeconomic Fluctuations: A New Open Economy Macroeconomics Interpretation, joint with Soyoung Kim (HKIMR Working paper, 2008), Macroeconomic Dynamics, 2014.
Accounting for Global Dispersion of Current Accounts, joint with Yongsung Chang and Sun-Bin Kim, Review of Economic Dynamics, 2013.
Real Exchange Rates and Fundamentals: A Cross-Country Perspective, joint with Luca Ricci and Gian Maria Milesi-Ferretti, Journal of Money, Credit and Banking, 2013
Monetary Policy of the Bank of Korea During the First Sixty Years, joint with Kyungsoo Kim, Seoul Journal of Economics, 2011.
Global Dispersion in Current Accounts: Is the Universe Expanding? joint with Hamid Faruqee, IMF Staff Papers, 2009.
Option Pricing Approach to International Reserves, Review of International Economics, 2009.
International Reserves: Precautionary vs. Mercantilist Views, Theory and Evidence, joint with Joshua Aizenman, Open Economies Review, 2007.
Does Productivity Growth Lead to Appreciation of the Real Exchange Rate?, joint with Man-Keung Tang. Review of International Economics, 2007.
New Rates from New Weights, joint with Tamim Bayoumi and Sarma Jayanthi, IMF Staff Papers, 2006.
Current Account and Real Exchange Rate Dynamics in the G-7 Countries (joint with Menzie Chinn), Journal of International Money and Finance, 2006.
Political Influence and the Dynamic Consistency of Policy (joint with Michelle Garfinkel), American Economic Review, 2000.
The Role of a Variable Input in the Relationship between Investment and Uncertainty. (joint with Kwanho Shin), American Economic Review, 2000.
Intertemporal Substitution in Imported Durables, Journal of International Economics, 1998.
The Response of Exchange Rate Pass-Through to Market Concentration in a Small Economy: The Evidence from Korea, Review of Economics and Statistics, 1997.
Financial Development by Learning, Journal of Development Economics, 1996.
Asset Purchase Programs in European Emerging Markets, IMF Departmental Paper 21/021, 2021, joint with M. Arena, R. Bems, N. Ilahi, W. Lindquist, and T. Lybek.
Demographic Headwinds in Central and Eastern Europe, IMF Departmental Paper 19/12, 2019, joint with C. Batog, E. Crivelli, A. Ilyina, Anna, Z. Jakab, A. Musayev, I. Petrova, A. Scott, A. Shabunina, A. Tudyka, X.C. Xu, Z. Ruifeng.
U.S. Consumption after the 2008 Crisis, joint with Pau Rabanal and Damiano Sandri, IMF Staff Position Note 10/01, 2010.
The Case for Global Fiscal Stimulus, joint with Doug Laxton and others, IMF Staff Position Note 09/03, 2009.
Exchange Rate Assessments: CGER Methodologies, joint with Gian Maria Milesi-Ferretti, Jonathan Ostry, Alessandro Prati, and Luca A. Ricci, IMF Occasional Paper 261, 2007.
Workshops or Barracks? Productive versus Enforcive Investment and Economic Performance (joint with Stergios Skaperdas), in Advances in Applied Microeconomics: Contests, edited by Michael Baye, JAI Press, 1998.
Global Risk Management Team
Heo, Yoon et al. (2023), “Impact of imitation ability on ASEAN countries’ intra-industry trade: A System GMM Approach,” Journal of the Asia Pacific Economy, Vol. 28, No. 2, Taylor & Francis.
Heo, Yoon et al. (2023), “They Convert, I Also Convert: The Neighborhood Effects and Tea Farmers' Intention to Convert to Organic Farming,” Renewable Agriculture and Food Systems, Vol. 38, E11, Cambridge University Press.
Heo, Yoon et al. (2022), “Impact of Intellectual Property Rights Protection on Trade: The Role of 'Third Country' in Market Power and Market Expansion Effects,” Economic Systems, Vol. 46, No. 1, Elsevier.
Heo, Yoon et al. (2021), “Impact of Institutional and Cultural Distance on ASEAN’s Trade Efficiency,” Journal of Economic Studies, Vol. 49, No. 1, Emerald Publishing.
Heo, Yoon et al. (2021), “Impact of the Institutional Quality on NAFTA’s International Trade: A System GMM Approach,” Journal of Economic Studies, Vol. 48, No. 3, Emerald Publishing.
Heo, Yoon et al. (2020), “Impacts of Ecosystem Vitality on ASEAN’s Agricultural Exports: A System Generalized Method of Moments Approach,” International Area Studies Review, Vol. 23, Issue 4, pp. 335-351, SAGE Publishing.
Heo, Yoon et al. (2020), “Is NAFTA Trade-Creating or Trade-Diverting?,” Economic Papers, Vol. 39, Issue 3, pp. 222-238, Wiley-Blackwell.
Heo, Yoon et al. (2018), “Impact of Conversion to Organic Tea Cultivation on Household Income in the Mountainous Areas of Northern Vietnam,” Sustainability, Vol. 10, Issue 12, MDPI.
Heo, Yoon et al. (2018), “Horizontal Intra-Industry Trade in Korea: A Dynamic Panel Data Analysis,” Journal of International Logistics and Trade, Vol. 16, No. 1.
Heo, Yoon et al. (2017), “Institutional Quality Matters: Evidence from Trade Flows of ASEAN-6 Countries,” Asian International Studies Review, Vol. 18, No. 2.
Professor, Department of Economics, Seoul National University
Kim, J.H., Lee, Jungmin, and Lee, K. (2023), “Minimum Wage, Social Insurance, and Working Hours,” Journal of Public Economics, Vol. 224.
Choi, S., Kim, J., Lee, Jungmin, and Lee, E. (2022), “Probability Weighting and Cognitive Ability,” Management Science, Vol. 68, No. 10.
Hong, S.C., and Lee, Jungmin (2017), “Who is Sitting Next to You? Peer Effects inside the Classroom,” Quantitative Economics, Vol. 8, No. 1.
Lee, Jungmin (2013), “The Impact of A Mandatory Cooling-off Period on Divorce,” Journal of Law & Economics, Vol. 56, No. 2.
Hamermesh, D.S., and Lee, Jungmin (2007), “Stressed Out on Four Continents: Time Crunch or Yuppie Kvetch?,” Review of Economics and Statistics, Vol. 89, No. 2.
Associate Professor, School of Economics, Yonsei University
Environmental Regulation, Induced Innovation, and Greener Transition: Firm-level Evidence (with Sunghoon Chung and Manho Kang), Journal of Development Economics, 2026.
Labor Market Rigidity at Home and Multinational Corporations' Flexible Production Reallocation Abroad (with JaeBin Ahn and Sunghoon Chung), Journal of Development Economics, 2025.
The Cleanup of US Manufacturing through Pollution Offshoring (with Jay Hyun, Gueyon Kim, and Ziho Park), Journal of International Economics, 2025.
Bound by Ancestors: Immigration, Credit Frictions, and Global Supply Chain Formation (with Jay Hyun and Ziho Park), Journal of International Economics, 2024.
Anxiety or Pain? The Impact of Tariffs and Uncertainty on Chinese Firms in the Trade War (with Felipe Benguria, Deborah Swenson, and Mingzhi Xu), Journal of International Economics, 2022.
Global Influences on Gender Inequality: Evidence from Female Employment in Korea (with Theresa Greaney), International Economic Review, 2022.
