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Trade and investment between Korea and EU after the Korea-EU FTA and its prospect

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  • Trade and investment between Korea and EU after the Korea-EU FTA and its prospect
  • Kang, Yoo-Duk; Kim, Jun Yeup
  • Korea Institute for International Economic Policy


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Title Trade and investment between Korea and EU after the Korea-EU FTA and its prospect
Similar Titles
Material Type Reports
Author(English)

Kang, Yoo-Duk; Kim, Jun Yeup

Publisher

[Seoul] : Korea Institute for International Economic Policy

Date 2013-09
Journal Title; Vol./Issue World Economy Update:vol.3(no. 44)
Pages 9
Subject Country South Korea(Asia and Pacific)
Europe(Europe)
Language English
File Type Link
Subject Economy < Trade
Economy < Direct Investment
Holding Korea Institute for International Economic Policy
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Abstract

Bilateral trade between Korea and EU has been increasing with the exception of the period of the global financial crisis (2009) and Korea has enjoyed trade surplus since 1997. At the time when negotiations were launched for the Korea-EU FTA in 2007, EU was Korea’s second largest trading partner and the site of the most significant trade surplus gain for Korea, whose trade balance amounted to USD 19.1 billion. Since the global financial crisis, Korea’s trade surplus with EU, however, has been gradually decreasing. Korea’s import from EU increased by 21.3% per year in the period of 2009–2011, while its export to EU increased only at an annual rate of 9.3% in the same period of time. In 2012, Korea’s export to EU was USD 49.4 billion, while its import from EU was reported to be USD 53.6 billion.