한일 갈등에 의한 일본의 주요 수출입 품목과 자본수지의 변화

Abstract

Purpose: This study aims to analyze the impact of the spread of the conflict between South Korea and Japan to the economic issue on the balance of Japan’s trade and capital account. Until now, the conflict between the two countries was centered around the historical issue, and the separation of economy and politics has operated. Composition/Logic: Japan’s export control was implemented as the political logic operated to energize the base of support right before the election of the House of Councilors in July 2019. Economically, the failure in the reform of the industrial structure that lost international competitiveness was the cause for the execution of the export control measure against the semiconductor industry, the key industry of South Korea. Japan applied political logic to South Korea for its failure in economic policy. Findings: The analysis was developed, focusing on 2019, when the two countries’ confrontation and conflict became fierce. Through the analysis, the following conclusions were drawn. First, Japan’s export control measure was led by the Prime Minister’s political judgment, not by the government. Second, since the division of labor and horizontal trade are actively done, the economic conflict between the two countries may extend over a long period, which would affect the global supplies. Third, the change in the share of Japan’s major exports in comparison to the previous year was especially noticeable in the apparatus for transportation. Originality/Value: This study has originality in that it comprehensively analyzed changes in the balance of trade, service, and capital account. In general, the analysis of economic conflict is developed, focusing on trade and investment in the international economy. The analysis of the conducted focusing on the balance of trade, service, and capital account in 2019 has a significance that it provided a chance to examine how the economic conflict between South Korea and Japan distorted free trade.