한국･EU FTA 체결후 무역 교류 사례 = An Analysis of a Trade Case of Korea-EU FTA

다국어 초록 (Multilingual Abstract)

This paper examines the FTA effect after Korea-EU FTA, especially focused on the trade and foreign direct investment. Korea’s economy is driven largely by exports and import, and Europe is a major market for Korean goods. Korea has a high level of dependence on exports[trade]. Korea’s trade to gdp ratio is 49.96% in 2008, 55.74% in 2011, 53.92% in 2013. And Korea’s export/import to GNI ratiois 78.7% that rate is far higher than other advanced countries such as the United States (18.2%), Japan (30.1%) and Germany (73.8%). This study argues that have to pay attention to the strengthening the competitiveness of exports and trade for Korea’s economic growth.
In this respect, Korea has emerged as a country speeding up the Free Trade Agreement partner compare with other asian countries, such as china and japan. The both government hope to relieve the trade imbalance between the Community and trade partners after FTA going into effect. In Korea some non-tariff barriers exist about market access, direct investment and trade in service. The Free Trade Agreement eliminates duties for industrial and agricultural goods in a progressive, step-by-step approach. The Korea-Chile FTA went into effect on April 01, 2004. After then FTAs with Singapore, EFTA, ASEAN, India and Peru, EU and US entered into force.
Korea’s Export and Import over a span of six years around the two sides struck an agreement in 2010. We can find Eropean Union is Korea’s largest export and import market outside Asia and Middle East. We can noticed important relationship between the EU and the South Korea in trade activities. Therefore, this study is a case study of how did it influenced impact on trade flows after the FTA between Korea and EU.
Korea-EU FTA Progress. The Korea-EU FTA is between Korea and the European Union, its member states. The negotiations began May 2007 and initialed 15 October 2009. The agreement has been provisionally applied since 1 July 2011. Import duties are near eliminated on all produce and there is deep liberalisation in trade in services.
Those barriers be relaxed through Korea-EU FTA and as expected the foreign direct investment from EU and other developed countries increased. In the initial period after FTA, Korea currently has comparative advantage on EU’’s products in EU market, but it is possible for Korea to lose its current competitiveness over them. So the Korean government needs to establish specific direction to improve industries for trade.

참고문헌 (Reference)

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