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Free Trade Agreements and Korea’s Trade Policy

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Authors
Hyun, Jung Taik
Issue Date
2003-12
Publisher
Institute of International Affairs, Graduate School of International Studies, Seoul National University
Citation
Journal of International and Area Studies, Vol.10 No.2, pp. 21-37
Keywords
RegionalismFree Trade AgreementEconomic IntegrationTrade PolicyLiberalizationTrade NegotiationMultilateral Trade System
Abstract
This paper examines Korea’s reaction to the proliferation of regionalism in the world and provides an evaluation of Korea’s free trade agreement (FTA) policy. Korea’s approach of starting FTAs with smaller countries reduces the potential gains from FTAs; instead priority should be placed on forming FTAs with larger trading countries. The slow pace of establishing FTAs will ultimately be a disadvantage for Korea, positioning it as a late entrant to FTAs. This paper recommends that Korea promptly ratify its FTA negotiations with Chile and expedite negotiations on further FTAs with other countries. However, Korea and its trading partners must also recognize that FTAs are second best options and must not allow regionalism undermine the importance and the success of the Doha Development Agenda.
ISSN
1226-8550
Language
English
URI
http://hdl.handle.net/10371/96390
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Graduate School of International Studies (국제대학원)Dept. of International Studies (국제학과)Journal of International and Area StudiesJournal of International and Area Studies vol.10 (2003)
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