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Korea's FTA policy consistent with APEC goals

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  • Korea's FTA policy consistent with APEC goals
  • Cheong, Inkyo
  • Korea Institute for International Economic Policy


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Title Korea's FTA policy consistent with APEC goals
Similar Titles
Material Type Reports
Author(English)

Cheong, Inkyo

Publisher

Seoul:Korea Institute for International Economic Policy

Date 1999-03
Series Title; No KIEP Working Paper / 99-04
ISBN 89-322-4045-0; 89-322-4026-4(세트)
Pages 59
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Trade
Holding Korea Institute for International Economic Policy

Abstract

Up until very recently, Korea had maintained a steadfast support of trade liberalization realized only through multilateral means, such as through the WTO and APEC. However, as countries of almost all regions except East Asia have embraced regionalism, Korea has been forced to question its adherence to a view that would see it lose out to the substantial trade diversion of these growing agreements, even though Korea still remains a strong supporter of the WTO. This paper begins with a more detailed analysis of the factors that led to Korea's more open approach to FTAs, culminating in the officially stated intention of exploring a bilateral FTA with Chile. Korea and Chile have concluded preliminary talks and working-level negotiations are expected to begin in 1999. Looking beyond the FTA with Chile, Korea has stated that it is pondering establishing FTAs with Thailand, South Africa, and Turkey. (The rest omitted)