> high tariffs on all imports?
> doesn't South Korea have to comply with WTO oversight?

Not on all imports (I presume).

Yes, SK has to comply with WTO oversight. This does not mean though that SK cannot protect some industries such as farming from cheap imports... hence levying import taxes on those, still within WTO regulations.

high tariffs on all imports?

doesn't South Korea have to comply with WTO oversight?


Bell_curve

econ

Mostly crappy writing in this newspaper, just reading the title will give you the gist ;)

But yeah, imported stuff is expensive (with high tariffs, too) and locally produced stuff is equally expensive, due to lack of competition from cheaper import stuff.