Ukraine – South Korea: economic cooperation potential

Abstract

Analysis of the reasons and circumstances of the unprecedented growth of the South Korean economic and social indicators during modern times, phenomenal achievements of the country in various spheres of life and wellbeing of people are contained. Possibilities for transition countries, like Ukraine, to make use of the experience of the republic of Korea and other Asian countries for a catch-up economic and political modernization are outlined. Given Confucian Korea outstanding performance during the life of one generation and geostrategic similarity with Ukraine, expediency of using positive experience of this country fully or at least partially in attaining the priority goals of Ukraine’s reform strategy is grounded. Reform priorities include restoring the country's good governance system, decentralization, abolishing monopolies, fighting corruption at all levels, effectively reforming the judiciary and solving other important problems as was done in South Korea. Just like Korea, it is advisable for Ukraine to focus on the development of the country, adapting and creatively integrating the most competitive values and management technologies of the Confucian East and the liberal West.