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Korea’s FTA policy : Background, and current progress

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Frame of Image s to be made by removing trade barriers on a preferential basis, and has decided to pursue the establishment of preferential trading blocs. A free trade agreement (FTA) eliminates tariffs and improves non-tariff barriers (NTBs), stimulating trade for member nations while limiting imports from non-member nations at the same time. In an effort to avoid the negative effects of exclusion from such agreements, to maintain economic reform and an open policy, and to actively cope with proliferating regionalism, the Korean government has decided to pursue FTAs with other nations. 1 Forming FTAs will enable Korea to create political allies, attract foreign investment, and establish overseas footholds, as well as allow Korean companies to secure foreign export markets and overcome discriminatory practices under other FTAs. Following the introduction, Chapter II examines the background of Korea’s FTA policy, since the financial crisis. Chapter III describes the FTAs that Korea is currently considering. There has been some criticism over Korea’s pursuit of an FTA with Chile. This paper argues in Chapter IV that the government of Korea decided to negotiate the bilateral FTA with Chile after considerable discussions. Chapter V discusses the need for an FTA with Japan, emphasizing that, despite many obstacles, a Korea-Japan FTA is strategically significant and offers various economic benefits. As a conclusion in Chapter VI, the author stresses that Korea’s long-term FTA goal should be to es


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Title Korea’s FTA policy
Similar Titles
Sub Title

Background, and current progress
Material Type Proceedings
Author(English)

Cheong, Inkyo

Publisher

[Seoul] : KDI School of Public Policy and Management
Date 2002
Event

International Trade and WTO Agreements for Asian Countries

Pages 18
Language English
File Type Documents
Original Format pdf
Subject Economy < Trade
Holding KDI school of Public Policy and Management
License