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Korea's FTA Policy : Current status and future prospects

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Frame of Image allenges. Further, it suggests selection criteria for determining eligible FTA partners for Korea and presents important implications for how Korea’s future FTA policy should be developed. Until the mid 1990s, the trade policy of Korea has long been based on multilateral and bilateral trade liberalization, hardly paying attention to regional trading arrangements. However, both external and internal factors have influenced Korea’s recent adoption of FTA policy. These include ① the growing importance of regional trading arrangements in the world trade, ② the changes in the international perception of regionalism, ③ the need for securing export and investment markets, ④ the continuation and acceleration of market openings and structural reforms, and ⑤ the need for strengthening political and economic ties with major trading partners. With this background, this paper first discusses the current status of Korea’s major FTA initiatives: a ‘Korea-Chile FTA,’ a ‘Korea-Japan FTA,’ and a ‘Korea-U.S. FTA.’ A ‘Korea-Chile FTA,’ which is Korea’s first FTA initiative, began in late 1998. It is still in the process of negotiations to narrow down differences over the tariff concession schedules. Talks on a ‘Korea-Japan FTA’ were also initiated in late 1998. Korea and Japan conducted a joint research on the bilateral FTA and exchanged its results at International Joint Symposium in May and September 2001 at Seoul and Tokyo, respectively. Currently the private sector is taking the lead in bila


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Title Korea's FTA Policy
Similar Titles
Sub Title

Current status and future prospects

Material Type Reports
Author(English)

Sohn, Chan-Hyun; Yoon, Jinna

Publisher

Seoul:Korea Institue for International Economic Policy

Date 2001-09
Series Title; No KIEP Discussion Paper / 01-01
Pages 42
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Trade
Holding KEIP; KDI School