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Author: Dae-Jong Kim Publisher: ISBN: Category : Languages : en Pages : 13
Book Description
Since the signing of the Korea-China Free Trade Agreement (FTA), China has become the biggest trade partner of Korea. With a transaction volume that is 2.5 times greater than the trade with the US, it is not an exaggeration to say that Korean economy is sustained by China. However, in 2013, only 15% of Korea's total export is from the small and medium enterprises (SMEs). Approximately 85% of Korea's total export was made by large and medium corporations. The FTA with China expanded the trade possibilities for large corporations but it made trade more difficult for SMEs. The FTA with China is anticipated to bring an economic growth of 1.7 to 2.1% and add 40.3 billion dollars to Korea's GDP by the year 2025. Based on the result of the international input-output analysis, the most vulnerable industries of SMEs are electric and electronics, machinery, chemical, steel and metals, construction and transport equipment.
Author: Dae-Jong Kim Publisher: ISBN: Category : Languages : en Pages : 13
Book Description
Since the signing of the Korea-China Free Trade Agreement (FTA), China has become the biggest trade partner of Korea. With a transaction volume that is 2.5 times greater than the trade with the US, it is not an exaggeration to say that Korean economy is sustained by China. However, in 2013, only 15% of Korea's total export is from the small and medium enterprises (SMEs). Approximately 85% of Korea's total export was made by large and medium corporations. The FTA with China expanded the trade possibilities for large corporations but it made trade more difficult for SMEs. The FTA with China is anticipated to bring an economic growth of 1.7 to 2.1% and add 40.3 billion dollars to Korea's GDP by the year 2025. Based on the result of the international input-output analysis, the most vulnerable industries of SMEs are electric and electronics, machinery, chemical, steel and metals, construction and transport equipment.
Author: Kyu Yub Lee Publisher: ISBN: Category : Languages : en Pages : 5
Book Description
On 20 December 2015, the Korea-China Free Trade Agreement (FTA) entered into force. The Korea-China FTA would impact both economies' welfare in the long run, elevating it to a higher level compared to before the FTA was concluded. However, it must be pointed out that in the short run, trade activities between Korea and China might be affected by external/internal economic forces such as the persistent global trade slowdown and weak domestic economic growth, and non-economic forces such as THAAD and non-tariff barriers. Thus, it might be impetuous to examine the economic impact on the Korean and Chinese economies just a year after the Korea-China FTA was concluded. Nevertheless, it would be worth examining the positive changes that have occurred over the last year, and providing constructive suggestions to both countries in order to accelerate the materialization of the benefits of the Korea-China FTA.This article investigates the major changes after the Korea-China FTA in terms of trade of goods and services, digital trade, and investment. Section II covers a brief analysis of the trade of goods between Korea and China. Section III underscores the distinctive features of international digital trade between Korea and China. Section IV provides facts on trade in services and investment. The last section presents policy implications for the Korea-China FTA.
Author: Brian M. Sullivan Publisher: ISBN: 9781628088434 Category : Free trade Languages : en Pages : 0
Book Description
The U.S.-South Korea Free Trade Agreement (KORUS FTA) is the second-largest U.S. FTA (next to NAFTA). South Korea is the seventh largest trading partner of the United States, and the United States is South Korea's third-largest trading partner. The KORUS FTA covers a wide range of trade and investment issues and, therefore, could have substantial economic implications for both the United States and South Korea. KORUS FTA encompasses a range of bilateral economic activities: trade in manufactured goods, agricultural products, and services; foreign investment; government procurement; intellectual property rights; and worker rights and environment protection, among other issues. The United States and South Korea entered into the KORUS FTA as a means to further solidify an already strong economic relationship by reducing barriers to trade and investment between them and to resolve long-standing troublesome economic issues. The United States specifically sought increased access to South Korean markets for agricultural products, services, and foreign investment. For South Korean leaders, the KORUS FTA is a mechanism to promote reform in its own economy and also to gain a competitive advantage in the U.S. market for autos and other manufactured goods. This book examines the provisions of the KORUS FTA in the context of the overall U.S.-South Korean economic relationship, U.S. objectives, and South Korean objectives. It also examines some of the issues that have arisen during its implementation.
Author: Brian M. Sullivan Publisher: ISBN: 9781628088441 Category : Political Science Languages : en Pages : 121
Book Description
The U.S.-South Korea Free Trade Agreement (KORUS FTA) is the second-largest U.S. FTA (next to NAFTA). South Korea is the seventh largest trading partner of the United States, and the United States is South Korea's third-largest trading partner. The KORUS FTA covers a wide range of trade and investment issues and, therefore, could have substantial economic implications for both the United States and South Korea. KORUS FTA encompasses a range of bilateral economic activities: trade in manufactured goods, agricultural products, and services; foreign investment; government procurement; intellectual property rights; and worker rights and environment protection, among other issues. The United States and South Korea entered into the KORUS FTA as a means to further solidify an already strong economic relationship by reducing barriers to trade and investment between them and to resolve long-standing troublesome economic issues. The United States specifically sought increased access to South Korean markets for agricultural products, services, and foreign investment. For South Korean leaders, the KORUS FTA is a mechanism to promote reform in its own economy and also to gain a competitive advantage in the U.S. market for autos and other manufactured goods. This book examines the provisions of the KORUS FTA in the context of the overall U.S.-South Korean economic relationship, U.S. objectives, and South Korean objectives. It also examines some of the issues that have arisen during its implementation.
Author: Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Many Free Trade Agreements (FTAs) are taking place in almost every corner of the world, and Korea is no exception. Korea notified over 50 FTAs to the WTO and has taken significant steps to reduce trade barriers through free trade agreements with major trade partners such as the USA, EU, China, ASEAN, and EFTA, etc. Korea also concluded FTAs with small developing countries like Vietnam, Chile and Singapore.SMEs comprise 99% of Korean firms while large firms make up just 1% of the total number of Korean firms. The future of the Korean economy depends on global competitiveness of SMEs. Going global is inevitable for global firms. FTAs can provide SMEs with various opportunities for global business. New foreign markets and global partners are available to SMEs for their products, and they can potentially increase their output by using FTAs. The Korean government has tried to assist SMEs to penetrate the foreign market by utilizing FTA opportunities.Contrary to expectations, some evidence indicated that SMEs are not taking full advantage of FTA opportunities. Survey results indicated that the FTA utilization rate of SMEs was much lower than that of large firms as well. There are many reasons for the low usage of FTAs, but they have not been explained fully.Some researchers have explained that large corporations have enough resources to construct FTA utilization strategies, pointing out key reasons for non-use of FTAs by SMEs as a lack of information on the implications, poor understanding, and the absence of FTAs with major trading partners. But it is still hard to discern which reasons are the major factors for low utilization of FTAs in Korean SMEs.Though SME are known to be unfriendly to FTA policy, they are eager to become global firms through FTA utilization. The proper answer can be closed out by analyzing the FTA utilization structure and export properties of SMEs.This article aims to suggest implications to enhance FTA utilization of SMEs strategically by examining the structure of FTA utilization and export activities on Korean SMEs. It also investigates various FTA utilization issues and suggests policy implications for Korean SMEs.
Author: Masahiro Kawai Publisher: Edward Elgar Publishing ISBN: 0857930419 Category : Business & Economics Languages : en Pages : 305
Book Description
East Asia is the region of the world that is changing fastest in terms of trade arrangements. Dozens of free-trade agreements are signed every year, turning a complex situation into the East Asian noodle bowl of FTAs. This book addresses the crucial question posed by these new agreements how do they affect business? While many studies have focused on government-to-government issues, this book gets to the heart of the matter, studying what it means for the firms actually doing the trade and investment. I recommend this book to any serious student of trade, particularly those interested in understanding the rapidly evolving landscape in this most dynamic part of the world. Richard Baldwin, Professor of International Economics, Graduate Institute, Geneva, Switzerland The pursuit of more than one hundred Free Trade Agreements in East Asia is quietly producing a fundamental change in the global economic architecture. This path-breaking new volume provides an indispensable guide to the practical effect of such agreements on commercial transactions in the region. It is a must-read for businessmen and policymakers who seek to both understand the impact of FTAs in the real world and expand their contributions to economic growth and development. C. Fred Bergsten, Director, Peterson Institute for International Economics, US [East Asia] needs to think about appropriate measures to overcome the Asian FTA noodle bowl in the future. In this vein, the study suggests several practical measures including encouraging rationalization and flexibility of rules of origin, upgrading origin administration, improving business participation in FTA consultations, and strengthening institutional support systems for SMEs. . . It is hoped that this study will contribute to strengthening regional trade policies in Asia and compatibilities with global trade rules. Haruhiko Kuroda, President, Asian Development Bank This is a valuable contribution in a crowded field. Kawai and Wignaraja have gone beyond familiar arguments about the relative merits of regionalism and multilateralism to ask businesses what it all means to them. Policymakers should take note. Patrick Low, Chief Economist, WTO For policymakers in the region, the debate is no longer between regionalism and multilateralism. The real question is how we should create the model for regionalism that will become the building blocks to a multilateral trading system and avoid raising costs of doing business from the noodle bowl effect. Therefore the comparative and micro-level research found in this book provides valuable insights on the impact of FTAs on businesses. These insights will be relevant input as policymakers forge ahead in implementing regional FTAs, thinking of ways to amend and improve on them and, most importantly, harmonize or consolidate between existing regional FTAs in East Asia. Mari Pangestu, Minister of Trade, Indonesia The spread of Asia s free trade agreements (FTAs) has sparked an important debate on the impact of such agreements on business activity. This pioneering study uses new evidence from surveys of East Asian exporters including Japan, the People s Republic of China, the Republic of Korea and three ASEAN economies of the Philippines, Singapore and Thailand to shed light on the FTA debate. Critics are concerned that FTAs erode the multilateral trading process and foster an alarming noodle bowl of overlapping regulations and rules of origin requirements which may be costly to business. Asia s Free Trade Agreements makes key recommendations for improving business use of FTA preferences, reducing costs of FTAs and creating a region-wide FTA. This well-researched and documented book will appeal to undergraduate and postgraduate students in international business, international economics, economic development, public administration and public policy. Academics, researchers and members of think-tanks around the world will also benefit from this book as will trad
Author: Aaditya Mattoo Publisher: World Bank Publications ISBN: 1464815542 Category : Political Science Languages : en Pages : 768
Book Description
Deep trade agreements (DTAs) cover not just trade but additional policy areas, such as international flows of investment and labor and the protection of intellectual property rights and the environment. Their goal is integration beyond trade or deep integration. These agreements matter for economic development. Their rules influence how countries (and hence, the people and firms that live and operate within them) transact, invest, work, and ultimately, develop. Trade and investment regimes determine the extent of economic integration, competition rules affect economic efficiency, intellectual property rights matter for innovation, and environmental and labor rules contribute to environmental and social outcomes. This Handbook provides the tools and data needed to analyze these new dimensions of integration and to assess the content and consequences of DTAs. The Handbook and the accompanying database are the result of collaboration between experts in different policy areas from academia and other international organizations, including the International Trade Centre (ITC), Organisation for Economic Co-operation and Development (OECD), United Nations Conference on Trade and Development (UNCTAD), and World Trade Organization (WTO).
Author: John B. Shoven Publisher: Cambridge University Press ISBN: 9780521319867 Category : Business & Economics Languages : en Pages : 316
Book Description
The central idea underlying this work is to convert the Walrasian general equilibrium structure (formalized in the 1950s by Kenneth Arrow, Gerard Debreu and others) from an abstract representation of an economy into realistic models of actual economies.
Author: Dae-Jong Kim
Author: Dae-Jong Kim
Author: Kyu Yub Lee
Author: Brian M. Sullivan
Author: Brian M. Sullivan
Author: 
Author: Masahiro Kawai
Author: Aaditya Mattoo
Author: Jacques Pelkmans
Author: John B. Shoven
Author: Walter Goode