미국의 대북 경제제재 해제과정과 해제의 경제적 효과 = The Progress of U.S. Economic Sansation Lifting and the Impact of Sanction Lifting on the North Korean Economy

다국어 초록 (Multilingual Abstract)

This paper aims to investigate the process of U.S. economic sanction on the DPRK economy and explore what kind of impact the United States` removal of economic sanctions against North Korea will have on the DPRK economy. First, one must recognize that the lifting of sanctions on North Korea by the United States is one step toward the difficult task of establishing diplomatic ties and normalizing relations. These sanctions were not just of one flavor, but were two different animals, one kind being restrictive or prohibitive sanctions, the other being discriminatory sanctions. Currently, interest is focused on the lifting of sanctions related to the Trading with the Enemy Act and the removal of North Korea from the List of Terrorism-sponsoring States, which is but the first step in what will be a long process. The lifting of the remaining restrictive and prohibitive sanctions is necessary, as is the removal of discriminatory sanctions. There are two main issues at the center of the discriminatory sanctions. The most important is that the United States has not established Normal Trade Relations (NTR) with the North, which results in high tariffs practically prohibiting importation of DPRK goods. The next most important issue is tied to restrictions on trade and investment promotion policies of the U.S. Import-Export Bank, the Overseas Private Investment Corporation (OPIC), and other tools of U.S. trade. Therefore, the impact of lifting of sanctions related to the Trading With the Enemy Act and no longer labelling the North as a state sponsor of terrorism is limited. The unfreezing of North Korean assets in the United States, supporting emergency infusion funds of International Financial Institutions (IFIs), and easing restrictions on the transfer of strategic materials are some of the remaining steps that could help expand inter-Korean cooperation and North Korean engagement. Of course, looking at the mid- to long-term, Washington`s lifting of economic restrictions, and even normalization of relations would both directly and indirectly lend considerable help to the recovery of North Korean economy. That said, before these steps can be taken, there needs to be an absolute resolution to the North Korean nuclear issue, and substantial progress in the opening and development of the North`s economy needs to be considered as a prerequisite.

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