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Korea's FTA policy and a new trade roadmap

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Frame of Image evelopment Agenda (DDA), which began in 2001, came to fruition last December in the form of a Bali package after a 12-year period. To sum up, whereas bilateral FTAs have been active thus far, in 2013, there has been a surge in regionalism and mutilateralism. Korea has also seen its fair share of trade policy changes this year. To begin with, the trade functions were transferred to
Korea’s FTA Policy and a New Trade Roadmap
2
the Ministry of Industry, Trade and Energy from the Ministry of Foreign Affairs and Trade with the advent of the Park Geun-Hye administration in the beginning of the year. Moreover, the government announced a new trade roadmap that will replace the FTA roadmap. The new trade roadmap may be distinguished from the past FTA roadmap in two significant aspects. First, from a policy direction perspective, the new trade roadmap will pursue mutually beneficial FTA externally while also pursuing communication-based FTA internally. The other aspect is that the policy objective has changed from becoming an FTA hub country to becoming a linchpin in regional economic integration. Being an FTA hub and a linchpin are similar in that they both represent continuations in trade and investment liberalizations. However, at a fundamental level, the two are different in that being an FTA hub is predicated on bilateral FTAs while linchpin is based on regional economic integration. Regional economic integration could be said to have a significantly greater ripple effect than bil


Full Text
Title Korea's FTA policy and a new trade roadmap
Similar Titles
Material Type Articles
Author(English)

Kim, Young Gui

Publisher

Korea Institute for International Economic Policy

Date 2014-01
Series Title; No KIEP Opinions
Pages 3
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Trade
Economy < Economic Administration