Abstract
This paper analyzes Korean trade policy evolution starting from the 1960s until present and includes the tariff and import liberalization processes. The government in initiating trade policies and its relationship with businesses were the main elements of the success stories in economic development. The factors affecting the government and other decision-makers have shown that the Korean government acted efficiently due to its speedy and flexible decision making process. Each decade has had unique characteristics in terms of development and trade policy improvement. After three decades of growth and development, Korea's accession to the WTO in 1990s was a turning point in trade policy evolution. Nowadays Korea is among the developed countries as a member of the OECD and could overcome several financial and economic crises through its proven flexibility and effectiveness. This paper attempts to summarize the factors that influenced the trade policy shifts and changes in the Korean economy. Several recommendations for Uzbekistan for further economic development and strategic planning will be provided based on Korean economic development history.
