This article examines the quantitative scale and structure of Joseon-Ming trade in the first half of King Injo’s reign, namely 1623-1636, focusing on the continuity and differentiation from Joseon’s international trade in previous periods, and the interconnectedness of the Ming-Joseon trade with the Joseon-Manchu and Joseon-Japan trade.
In the first half of the Injo’s reign, the scale of Joseon-Ming trade expanded rapidly. Due to the Manchus’ takeover of Liaodong peninsula in 1623, Joseon's tribute routes were shifted to the sea, which greatly increased the transportation capacity of trade goods. As a result, in the 12th year of Injo (1634), it is estimated that the annual volume of trade in the Peking reached the level of 200,000 taels of silver. The trade market on Gado Island, where the Ming army stationed to contain the Manchus, accounted for another 100,000 to 200,000 taels of annual trade between the Ming and Joseon merchants. This greatly exceeded the size of the Joseon-Ming trade during the King Gwanghaegun’s reign.
Joseon exported ginseng and silver to Ming, and imported silk and Chinese blue cotton cloth (靑布) in return. However, Joseon was unable to secure enough ginseng and silver for trade on its own. Joseon's sources of silver and ginseng were the official grain purchase of Ming garrison on Gado island, as well as Joseon's trade with the Manchus and Japan. Ming troops on Gado paid silver and Chinese goods to secure grain supply from Joseon government. In addition, after the first Manchu invasion of Korea (1627), the Manchus emerged as a new source of silver and ginseng. Also, Joseon was able to acquire silver from its trade with Japan, which had continued before the Imjin War (1592-1598). Joseon sold Chinese fabrics to the Manchus and Japan, and get paid by silver and ginseng, which was to be sold to Ming dynasty. In a nutshell Joseon was actively engaging in a intermediate trade with Ming, the Manchus, and Japan.
From 1627 to 1636, Joseon was simultaneously engaged in diplomatic and trade relations with Ming, the Manchus, and Japan, functioning as a de facto hub to connect them all. Joseon capitalized on its geopolitical status to gain substantial economic profit. To understand East Asian international trade centered on the Ming in the first half of the 17th century, it is necessary to look not only at maritime trade in the coastal areas of southeastern China, but also at the trade between the Ming, Joseon, the Manchus, and Japan, with Joseon as the hub.

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