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FTA utilization of Korean SMEs-Opportunities&policy tasks

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Frame of Image xplained that large corporations have enough resources to construct FTA utilization strategies, pointing out
FTA Utilization of Korean SMEs : Opportunities & Policy Tasks
ners such as the USA, EU, China, ASEAN, and EFTA, etc. Korea also concluded FTAs with small developing countries like Vietnam, Chile and Singapore. SMEs comprise 99% of Korean firms while large firms make up just 1% of the total number of Korean firms. The future of the Korean economy depends on global competitiveness of SMEs. Going global is inevitable for global firms. FTAs can provide SMEs with various opportunities for global business. New foreign markets and global partners are available to SMEs for their products, and they can potentially increase their output by using FTAs. The Korean government has tried to assist SMEs to penetrate the foreign market by utilizing FTA opportunities. Contrary to expectations, some evidence indicated that SMEs are not taking full advantage of FTA opportunities. Survey results key reasons for non-use of FTAs by SMEs as a lack of information on the implications, poor understanding, and the absence of FTAs with major trading partners. But it is still hard to discern which reasons are the major factors for low utilization of FTAs in Korean SMEs. Though SME are known to be unfriendly to FTA policy, they are eager to become global firms through FTA utilization. The proper answer can be closed out by analyzing the FTA utilization structure and export properties of SMEs. This a


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Title FTA utilization of Korean SMEs-Opportunities&policy tasks
Similar Titles
Material Type Articles
Author(English)

Lee, Youngjoo

Publisher

Sejong:Korea Institute for Industrial Economics and Trade

Date 2016-02
Journal Title; Vol./Issue KIET Industrial Economic Review:Vol. 21(No. 1)
Pages 11
Subject Country South Korea(Asia and Pacific)
Language Korean
File Type Documents
Original Format pdf
Subject Economy < Economic Administration
Industry and Technology < General
Holding Korea Institute for Industrial Economics and Trade