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@article{ART001482861},
author={Hyunjin Lee},
title={The Korea-US Debate in foreign exchange control and reconstruction plan under aid program},
journal={The Review of Korean History},
issn={1225-133X},
year={2010},
number={99},
pages={339-376}

TY - JOUR
AU - Hyunjin Lee
TI - The Korea-US Debate in foreign exchange control and reconstruction plan under aid program
JO - The Review of Korean History
PY - 2010
VL - null
IS - 99
PB - The Historical Society Of Korea
SP - 339
EP - 376
SN - 1225-133X
AB - The purpose of this study is to closely examine the debate between the ROK-US in foreign exchange control and reconstruction plan under aid program focusing on Korea Industrial Bank's establishment and 'Rhee plan'. The matter of influence over foreign exchange was a key point of contention between the two parties in the context of the discussions involving the ROK-US Aid Agreement. However, as the Aid Agreement came to a close, the ROK government was in no position but to recognize the US the right to influence foreign exchange in Korea, as the control over the aid fund was in the hands of the US government as well as the matter of UN Forces loan redemptions. This prompted President Rhee to seek other means to ensure that ROK retains reasonable control over its own foreign exchange management and the creation of the KIB is believed to be a consequence of this effort. 'Rhee plan' was written report by James H. R. Cromwell. President Rhee supported this report. The structure of Korean Reconstruction Finance Corporation(KRFC) proposed in this report was similar to that of Korea Industrial Bank. It was under strong state control. 'Rhee Plan' was proposed that KRFC should be directly supervised and controlled by the President, in view of ensuring its stable financing by means of foreign capital introduction, as well as the careful attention paid in setting the relationship between the Combined Economic Board (CEB) and the board of the KRFC. The US opposed the establishment of the KRFC, citing the reason that a strong state control over it will prove unhelpful in inducing private capital investment. Thus, the creation of the Industrial Bank and 'Rhee Plan' should be understood more in the extended context of the economic aid agreement and post-war reconstruction plan to secure a dominant influence over foreign exchange control.
KW - foreign exchange control;Korea Industrial Bank;Korean Reconstruction Finance Corporation;aid agreement;post-war reconstruction plan
DO -
UR -
ER -

Hyunjin Lee. (2010). The Korea-US Debate in foreign exchange control and reconstruction plan under aid program. The Review of Korean History, 99, 339-376.

Hyunjin Lee. 2010, "The Korea-US Debate in foreign exchange control and reconstruction plan under aid program", The Review of Korean History, no.99, pp.339-376.

Hyunjin Lee "The Korea-US Debate in foreign exchange control and reconstruction plan under aid program" The Review of Korean History 99 pp.339-376 (2010) : 339.

Hyunjin Lee. The Korea-US Debate in foreign exchange control and reconstruction plan under aid program. 2010; 99 : 339-376.

Hyunjin Lee. "The Korea-US Debate in foreign exchange control and reconstruction plan under aid program" The Review of Korean History no.99(2010) : 339-376.

Hyunjin Lee. The Korea-US Debate in foreign exchange control and reconstruction plan under aid program. The Review of Korean History, 99, 339-376.

Hyunjin Lee. The Korea-US Debate in foreign exchange control and reconstruction plan under aid program. The Review of Korean History. 2010; 99 339-376.

Hyunjin Lee. The Korea-US Debate in foreign exchange control and reconstruction plan under aid program. 2010; 99 : 339-376.

Hyunjin Lee. "The Korea-US Debate in foreign exchange control and reconstruction plan under aid program" The Review of Korean History no.99(2010) : 339-376.