This study is concerned with the extent to which labor migration is advantageous to the labor sending country in the general theoretical aspects and analyzes Korean data on international migration during last two-decades and its economic impacts on Korean economy.
Theoretical discussion mainly focuses on development consequences of labor migration with a viewpoint of nationalist model, examining a variety of impacts of labor emigration on labor sending country. In examining the Korean data, an attempt is made to discuss the dimensions of the migration flows to the overseas, overseas earnings and remittances, and its impacts on the domestic economy as comprehensively as possible to the extent of data available.
Finally, this study represents the results of research on the effects of labor migration on Korea's aggregate rate of economic growth. As it, using aggregate production function, deals with the dynamic macro-economic effects of emigration, many micro-economic problems associated with labor migration are not directly considered.
The results of this study indicate that international labor migration in Korea have come to play an increasingly important role for her economy. There is, however, a very important caveat to be mentioned concerning this results. For many variables associated with migration are not considered explicitly.
Further research that considers a wide variety of variables affected by labor migration, e.g. economic, social, political, and demographic variables, would be necessary to obtain more accurate information on the effects of international labor migration.
