Prof.Karl-Heinz Paqué met Korean Institute for National Unification(KINU)

On June 13th the Korean Institute for National Unification (KINU) and the Friedrich Naumann Foundation for Freedom Korea (FNF), hosted a joint workshop on "Economic Challenges in the Process of German Unification“. The main presenter was Prof. Karl-Heinz Paqué, Chairman of the board of directors of FNF. Prof. Paqué shared insights from his academic research on the topic as well as from his first hand experience as a state minister of finance in Saxony-Anhalt, where he was deeply involved in the processes of the reshaping of the economic policies in a reunited Germany.

In total, the economic unification processes has achieved a lot to create an equal economy in East and West. Nevertheless there is still a gap of 20 to 30% (depending on the measurement methods) and the road ahead is still long. Decades rather than years are necessary for a full integration and equality of the economy in East and West. Very important will be the role of Berlin and the creation of an own innovative industrial base in the eastern states.

After the input by Prof. Paqué, the KINU experts followed up with various questions and own input to compare the Korean case and Germany. Amongst other points, the perception of unification by the people was discussed and how important it is to include this point in any economic policy making. It was a lively and fruitful discussion, benefiting both sides with new insights and understanding.

We thank our friends at KINU and we are looking forward to many more expert meetings in the future!