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Which properties will lead Korean SMEs to prefer industrial cooperation with the EU after the Korea-EU FTA

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Frame of Image n system, so that external firms
cannot easily find niche markets in the EU market. The sophisticated taste of EU customers is another intractable factor that makes access to markets difficult for Korean SMEs. Therefore, Korean SMEs and government are coordinating efforts to develop FTA strategies considering the EU market and business conditions. FTA opportunities for the Korean SMEs can be reviewed from two perspectives: trade enlargement and industrial cooperation between Korea and the EU. Many researchers have asserted that strategies for Korean SMEs should be focused on industrial cooperation as well as export expansion to the EU market. If the Korea-EU FTA lowers EU’s trade barriers, Korean SMEs will have a chance for export growth. But the export growth effect will be offset by competitor’s counter strategies, fluctuations in the price of raw material price, and foreign exchange rates. Industrial cooperation, on the other hand, is likely to improve Korean SMEs competitive structure and global competencies that previously restricted their development. Furthermore, a positive effect of industrial cooperation is likely to increase over time. That is why FTA strategies for Korean SMEs should stress on industrial cooperation
with the EU. Though most scholars agree the strategic importance of industrial cooperation, there is little research on it. Some research has been done on macroeconomic effect of FTA without consideration of SMEs’ characteristics.? Therefore, this study


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Title Which properties will lead Korean SMEs to prefer industrial cooperation with the EU after the Korea-EU FTA
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Material Type Reports
Author(English)

Lee, Youngjoo

Publisher

[Seoul]:Korea Institute for Industrial Economics & Trade

Date 2009
Journal Title; Vol./Issue KIET Industrial Economic Review(Current issues):vol. 14(no. 5)
Pages 11
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Trade
Industry and Technology < Entrepreneurship
Holding KDI School of Public Policy and Management

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