The 2005 Annual Meeting was held on January 8 in Philadelphia. President Hong Y. Park reported the activities of the KAEA in 2004, including the conferences with the BOK, KDI, KEA and KFI. 26 members of the KAEA participated in these conferences.

There were two special recognitions. Professor Yoonbai Kim received a special recognition for his three years of service as the Secretary General of the KAEA. Professor Hyungsik Moon at USC received the Young Scholar's Award with a cash prize. This annual award is to recognize young scholars' academic accomplishments and to foster scholarship in economics. Professors Jay Pil Choi at Michigan State U. and Jinyong Hahn at UCLA served as selection committee memebers this year. Professor Hahn's statement for their choice:

Before the business meeting, Professor In-Kie Kim, President of the Korean Economic Association, presented his broad view about the current economic issues in Korea. This forum is continued next day in the Korea Economic Policy Issues Forum where Dr. Choong Soo Kim, President of the KDI, Dr. Sung-Hee Jwa, President of the KERI, and Dr. Heungsik Choe, President of the KIF presented their views. Professor Semoon Chang summarized the presentations of this forum in an article for The Korea Times. Click on Chang's Article.

After the business meeting, members took a ride in two buses to a Korean Restaurant for the annual dinner. More than 80 members and their guests participated. Professor Bang Nam Jeon at Drexel University arranged for the place, which was exceptionally nice. He gave a brief welcoming speach including the history of Philadelphia and some historic sites. Some members enjoyed karaoke singing.

President Kyoo Hong Kim made the following announcement about The KAEA Investment Subcommittee for 2005.

Functions - The Investment Subcommittee will refer to the KAEA President concerning the issues and concerns of the subcommittee on matters relating to investment of the KAEA fund. The subcommittee is expected to:

Meetings/Procedures

Membership

The Western Economic Association International (WEAI) Conference will be held in San Francisco at Marriott Hotel, July 4-8, 2005. WEAI is a large conference with more than 220 sessions attended by people across the world. The KAEA, jointly with KEA (Korean Economic Association) will sponsor two or three sessions at the meeting. Both KAEA and KEA members are invited to submit papers for presentation.

There will not be any particular themes for sessions. Please send a completed paper, with a cover sheet containing the author's name, address, professional affiliation, phone number, and e-mail address, to:

Deadline of submission is February 28 and please indicate whether you would be willing to serve as a discussant if your paper is accepted for presentation

The 2006 convention of the Applied Social Science Association will be held in Boston, MA, January 6-8, 2006. The KAEA will sponsor three sessions at this annual convention including one joint session with American Economic Association. KAEA members are invited to submit papers for presentation. Both empirical and theoretical papers in a broad range of topics are welcome. Topics related to Korean economy are preferred but papers on other general topics will be considered as well. The KAEA encourages the submission by young KAEA members, including Ph.D. students.

Guidelines for Paper Submission: Abstract of 200-400 words (and a completed paper if available) should be submitted through e-mail only to

The annual meeting of the Southern Economic Association (SEA) will be held in Washington, D.C. at the Grand Hyatt Washington Hotel, November 18 - 20, 2005 (Friday- Sunday). The SEA meeting is large in scope with about 200 organized sessions and is participated by many other associations. The Korea-America Economic Association (KAEA) will sponsor two or three sessions at this meeting, and KAEA members are invited to submit papers/proposals for presentation. We will hold a session particularly for Ph D candidates, so Ph D candidates nearing the completion of their thesis are encouraged to apply. A wide range of topics, both empirical and theoretical, are welcome which do not have to be related to Korea.

Please send a completed paper or a one page abstract in duplicate, with a cover sheet containing the author's name, address, professional affiliation, phone number, and e-mail address, to:

Professor H. Youn Kim, Department of Economics, Western Kentucky University, Bowling Green, KY 42101, Phone: 270) 745-3187, Fax: 270) 745-3190; youn.kim@wku.edu

Also indicate whether you would be willing to serve as a discussant if your paper is accepted for presentation.

The KAEA will sponsor three joint conferences this year with(1) KDI (Korea Development Institute), (2) KIF (Korea Institute of Finance), and (3) KMFA (Korea Monetary and Finance Association). Information about the first two conferences are posted below, and the information about the third conference will be posted when it becomes available.

KDI-KAEA Joint Conference

The KAEA invites manuscripts for a joint conference organized by the KDI and the KAEA. The conference seeks research papers on

Submission: Submit your completed paper with an abstract of 200-400 words by e-mail with file attachment, including the JEL code to the central receiving (Vice President, Professor H. Youn Kim). Only completed paper will be considered. Submitted papers will be reviewed and 6 papers (or more, if many qualified papers are submitted) will be selected. All papers selected will be assumed as publication submission for the KDI Journal of Economic Policy. To be selected in the program, the KAEA annual membership fee has to be paid for year 2004 and 2005.

Submission deadline: April 15, 2005

Conference Date: July 15 (Friday), Location: KDI.

Travel Support: Each paper selected for presentation will receive 1,500,000 won as a travel support. Additional 1,500,000 won will be given to each paper selected for publication in the KDI Journal. Participants of the conference from outside of Seoul will be provided local accommodations for the duration of two nights and three days

The KIF-KAEA-KAFA Joint Conference

The KIF has invited KAEA and KAFA members to join the annual joint conference. The theme of the conference is "Financial intermediation function in Korea." Weakening financial intermediation function is now one of the hot issues in Korea, and research in both macro and micro aspects on the financial intermediation are welcome. Other general topics related to asset pricing, banking, and corporate finance will be considered.

Submission: Submit your completed paper with an abstract of 200-400 words by e-mail with file attachment, including the JEL code to the central receiving (Vice President, Professor H. Youn Kim). Only completed paper will be considered. Submitted papers will be reviewed by the referees selected by the KIF and the KAEA, and 2-3 papers will be selected for the conference. To be selected in the program, the KAEA annual membership fee has to be paid for year 2004 and 2005.

Submission Deadline: September 15, 2005

Conference Date: December 16, Location: TBA.

Travel support: The KIF will support about four papers, each paper with the total of 2 million Won travel expenses. The submission of the paper to their journal,if accepted, will receive additional 3 million Won.

Where to Submit:

Please submit your papers to

Professor H. Youn Kim , Department of Economics, Western Kentucky University, Bowling Green, KY 42101, Phone: (270) 745-3187, Fax: (270) 745-3190, youn.kim@wku.edu.

When you submit your paper, please indicate where to present (KDI, KIF or KMFA).

To participate in the program, the KAEA annual membership fee has to be paid for year 2004 and 2005.

The 12th Annual Global Finance Conference will be held on June 27-29, 2005 in Dublin, Ireland. This may be a good conference to participate if you plan to travel Europe this summer. The deadline for submission has been extended from February 18 to February 28, 2005. If interested, you may get more information at two web sites: GFC 1 or GFC 2. The information for lodging will be added to their second web site shortly.

The number of due-paying members is important for the continued recognition from ASSA. We had only three sessions from 2003 down from four or more in the past. As the smallest organization within the ASSA, we rely on your support. Please note that those who wish to participate in any KAEA-sponsored events must pay membership dues for the current year and the last year to qualify.

Please send your membership due to KAEA treasurer: Professor Inhyuck Ha, P.O. Box 3237, Cullowhee, NC 28723