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Legal Issues on Shipbuilding Financing in The WTO System
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- Authors
- Advisor
- 안덕근
- Major
- 국제대학원 국제학과(국제통상전공)
- Issue Date
- 2017-02
- Publisher
- 서울대학교 대학원
- Keywords
- Prohibited Subsidies ; Shipbuilding ; Shipyards ; The Subsidies and Countervailing Duties ; Korea-Commercial Vessels ; Korea-EU FTA ; DSME Normalization Plan
- Description
- 학위논문 (석사)-- 서울대학교 대학원 : 국제학과(국제통상전공), 2017. 2. 안덕근.
- Abstract
- The purpose of this thesis is to determine the applicability of the Panel Ruling in 2005 for addressing issues raised by the EU and Japan on the DSME Normalization Plan in 2015. Moreover, it will show that Section 11 of Korea-EU FTA includes crucial provisions which may be interpreted to mean that the measures of DSME could be found to include prohibited subsidies.
The DSME Normalization Plan announced by KDB on October 29th, 2015 was publicly criticized as prohibited subsidies by EU and Japan in Working Party 6 of OECD. Even though the liquidity injection had to be repeated in 2016, the government of Korea assured that its measures are consistent with international regulations. The confidence of GOK derived from their victories in WTO dispute in 2002 through 2005, Korea-Commercial Vessels.
However, as the Korea-EU FTA went into force on 1 July 2011, the measures taken by KDB to rescue DSME from its near-insolvency can be seen to be in breach of the FTA. The EU attempted to expand the meaning of prohibited subsidies by explicitly indicating that certain measures which are responsible for covering debts or liabilities of certain enterprises and loans and guarantees, cash grants, capital injections below market prices or tax exemptions are prohibited. Those provisions reflect the EU negotiators intent to secure its shipbuilding industry by preventing the GOK from providing liquidation supports to Korean shipyards in the future.
As the international forum for dispute settlement is no longer limited to the WTO Dispute Settlement Understandings, no one can assume that GOK will win again in the international litigations on measures for DSME.
- Language
- English
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