Korea’s foreign direct investment in the European Union is expected to increase as a consequence of the Korea‐EU FTA. Korean companies planning to invest in the European market will often choose the form of a joint venture as the preferred business vehicle. This article analyzes the...

This paper examines the idea that the USA has outshined Europe in the race for new medicines as a result of a flight of business R&D expenditure to the USA. It adopts a methodology that accounts for R&D price inflation, considers the role of both ‘performed' R&D and ‘extra-mural' R&D, and...