This paper is one in the series of continuing KDI research
works which is designed to aid in the formulation of sound
public policies and to promote public understanding of issue of
the Korean economy.
This paper is a part of our on-going r research in the
pursuit of estimating Korea's shadow exchange rate. It starts
from a survey of Korea's foreign exchange system, followed by
a critical evaluation or Korea's present foreign exchange system.
Ultimately it aims to estimate Korea's optimum exchange rate. It
is hoped that this paper will help to stimulate the exchange of
useful knowledge for the future improvement.