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{
    "localId": "205716342",
    "label": "Report to the President: China - Korea, Submitted by Lieutenant General Alfred C. Wedemeyer",
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{
    "id": "205716342",
    "sourceUrl": "https://catalog.archives.gov/id/205716342",
    "contentType": "document",
    "title": "Report to the President: China - Korea, Submitted by Lieutenant General Alfred C. Wedemeyer",
    "citationUrl": "https://catalog.archives.gov/id/205716342",
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        "President's Secretary's Files (Truman Administration)",
        "Subject Files"
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    "naId": 205716342,
    "levelOfDescription": "item",
    "productionDates": [
        {
            "logicalDate": "1947-09-01",
            "month": 9,
            "year": 1947
        }
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{
    "seq": 94,
    "pageIndex": 0,
    "type": "photo",
    "url": "https://s3.amazonaws.com/NARAprodstorage/lz/presidential-libraries/truman/hst-psf/602191/750237/750237-14-094.jpg",
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    "ocrText": "TOP SECKET\nFrom 1910 to 1945, Korea's external trade was almost wholly absorbed by the Jap-\nanese Empire and the prime factor during the entire period was the export of rice to\nJapan. In 1936, of the value of 41 Korean products showing a net export balance, rice\naccounted for approximately 64 per cent. Although by 1939 the relative importance of\nrice exports had declined in favor of minerals and manufactures, of the 55 net export\nproducts in that year, rice still made up one-third of the total money value. Until the years\nimmediately preceding the war, fish and marine products ranked second to rice, averag-\ning from 7.5% to 9% of all net export commodities. Other exports individually were of\nminor significance. Korea's principal imports historically have reflected its dependence on\nthe outside world for fuels, heavy manufactures, machinery, automotive equipment, tex-\ntiles, and fibers, and specialized products.\nUnder current conditions, foreign trade in the ordinary sense of the term is small in\namount. During the period 15 August 1945 through 30 June 1947, the value of goods\nentering or leaving the area was approximately $168,000,000. Of this sum, however, only\nabout $25,000,000 represents the value of goods exchanged between Korea and the main-\nland of Asia as a result of the operations of private traders. The remaining $143,000,000\nrepresents mainly commodities imported by agencies of the United States Government\nas a part of the Civilian Supply Program and financed with appropriated funds of the\nWar Department, or as shipments made under the $25,000,000 Foreign Liquidation Com-\nmission credit, plus small amounts of UNRRA supplies. Exports which enter into this fig-\nure are surplus government-owned minerals and marine products, to the value of some\n$5,000,000.\nThe Military Government is endeavoring to encourage such trade as will reduce the\narea's dependence upon American funds. Credits realized from South Korea exports,\nunless balanced in kind by imports approved as essential, are to be used to purchase com-\nmodities similar to those making up the Civilian Supply list and certified for import by the\nMilitary Government. On 15 July 1947, Korea was declared open to small numbers of for-\neign businessmen, who might desire to develop trade possibilities within the framework\nestablished by the military authorities. Meanwhile, trade has been undertaken with Hong\nKong and Macao, and some critically needed materials have been obtained by barter in\nexchange for Korean surpluses. Recent negotiations with the Egyptian government have\nled to an agreement to exchange 730 tons of tungsten concentrates for 3,000 bales of\nlong-staple Egyptian cotton.\nAll dealings with Japan are restricted to a governmental level, and China has im-\nposed conditions which make legitimate trade virtually out of the question. Actually, a\ngrowing smuggling trade is going on both with Japan and China, and via Hong Kong and\nMacao. An essential step for promoting Korea's trade on a sound basis would be develop-\n\"NATIONAL\nment of an efficient customs service.\nARCHIVES AND\nRECORDS\n:\nSERVICE\"\nUnited States Investment in Rehabilitation\nThere is one basic policy question which overhangs all financial and economic pro-\ngrams for Korea: how long will the occupation of South Korea continue on a unilateral\n93\nTOP SECRET"
}