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Korea's FTA policy : Current status and future prospects

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  • Korea's FTA policy
  • Sohn, Chan-Hyun; Yoon, Jinna
  • Korea Institute for International Economic Policy


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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 Institute for International Economic Policy

Date 2001-09
Series Title; No Discussion Paper / 01-01
ISBN 89-322-4097-3; 89-322-4086-8(세트)
Pages 42
Subject Country Chile(Americas)
United States(Americas)
China(Asia and Pacific)
Japan(Asia and Pacific)
South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Trade
Holding Korea Institute for International Economic Policy

Abstract

The purpose of this paper is to give a general picture of Korea’s FTA policy in terms of its background, current status and future challenges. 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. (The rest omitted)