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Impact of the Korea-US FTA on Korean SMEs and policy implication for post-FTA

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Frame of Image s. The negotiating group on goods trade is discussing whether and when to open trade for 11,262 products, including manufactured and agricultural goods. After the 1st round of talks in June 2006, six additional rounds of talks have been held, during which the negotiating framework between Korea and the US has been established, and conditions for concluding the negotiations matured by narrowing opinion gaps between the two countries. The Korea-US FTA may be completed by the end of March this year, at least three months before the US TPA(Trade Promotion Authority) expires in June.1) Thus, it is becoming increasingly urgent to investigate the effects of the Korea-US FTA and establish measures to be implemented after the FTA is enforced. The Korea-US FTA is opposed by those who fear its negative effects on small and medium enterprises(SMEs) in Korea, which may be less competitive globally. As a result, there is much concern that the Korea-US FTA may threaten Korea’s SMEs. On the other hand, others argue that by gaining open
1) The final draft of the FTA negotiations must be submitted by the end of March in order to go through the 90 day ratification period of the US Congress to receive congressional approval by July 1, which is why the Korea-US FTA negotiations may be concluded by the end of march.
Jan. / Feb.┃2007┃Vol 12┃No 1
51
access to the world’s largest market, SMEs will also be given opportunities to grow by overcoming the limitations of the saturated the Korean domestic m


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Title Impact of the Korea-US FTA on Korean SMEs and policy implication for post-FTA
Similar Titles
Material Type Reports
Author(English)

Lee, Young-Joo

Publisher

[Seoul]:Korea Institute for Industrial Economics & Trade

Date 2007
Journal Title; Vol./Issue KIET Industrial Economic Review:vol. 12(no. 1)
Pages 22
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Trade
Industry and Technology < Entrepreneurship
Holding KIET; KDI School

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