• Title, Summary, Keyword: Free Trade Agreement

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A Study on the Determinants of Free Trade Agreement in South Korea: Evidence from Asian Countries

  • He, Yugang
    • The Journal of Distribution Science
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    • v.16 no.11
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    • pp.37-45
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    • 2018
  • Purpose - Recently, large quantities of factors have affected the signing of the Free Trade Agreement between two countries. Due to this background, this paper selects South Korea as an example to explore the determinants of Free Trade Agreement from Asian countries. Research design, data, and methodology - A cross sectional data of 2016 will be employed and some variables such as real income and GDP will be used to run an empirical analysis under the linear probability model, probit model and logit model. Results - The findings show that the Asian countries' exchange rate regime, real income, GDP and so forth can increase the probability of signing the Free Trade Agreement with Asian countries. Conversely, the distance can lower the probability of signing the Free Trade Agreement with Asian countries. Meanwhile, although the Asian countries' import, consumer price index and population also can affect the probability of signing the Free Trade Agreement with Asian countries, the estimated coefficients are not statistically significant at 5% level. Conclusions - According to the empirical results, this paper provides a new scope for South Korea's government to sign the Free Trade Agreement with other Asian countries.

General Agreement on Trade in Services of the Free Trade Agreement and the Healthcare Services of South Korea and the Prospect of the System (자유무역협정에서의 서비스무역에 관한 일반협정 중 한국의 보건의료 서비스 산업과 전망)

  • Cheong, Eungyoung
    • Perspectives in Nursing Science
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    • v.12 no.1
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    • pp.1-6
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    • 2015
  • Purpose: The purpose of this study is aimed to examine the Free Trade Agreement and its General Agreement on Trade in Services, especially, the healthcare service and the prospect of the system. Methods: This study was based on fourteen literature reviews from 2001 to 2014. Results: Free Trade Agreement and the General Agreement on Trade in Services were examined and Japan, China, and the United States's examples were shown. Healthcare market opening issues are the tendency of this era with the concept of globalization. Conclusion: This study highlights the tendency of healthcare market opening with all the pros and cons. The healthcare system along with the medical and nursing fields need to modify their system based on the globalization.

The Impact of the Canada-Korea Free Trade Agreement as Negotiated

  • Ciuriak, Dan;Xiao, Jingliang
    • East Asian Economic Review
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    • v.18 no.4
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    • pp.425-461
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    • 2014
  • This paper analyzes the impact of the Canada-Korea Free Trade Agreement on the basis of the published text and agreed schedule of commitments. We find that the Agreement reinforces existing patterns of comparative advantage between Canada (agriculture and resource-based sectors) and Korea (autos and other industries). The sensitive sectors that held up the deal for years - autos into Canada and beef into Korea - witness major trade gains, but are not unduly disrupted. In both economies, the major output gains otherwise come in non-traded services sectors, driven by income effects. We find that trade diversion effects are quite significant; this lends support for the domino theory of major free trade agreements - since the Korea-EU agreement broke the ice, the pressure has intensified on third parties to re-level playing fields by striking their own deals. The study breaks new ground in modelling services trade by developing policy impacts based on the extent to which the text of the Agreement modifies Korea's and Canada's scores on the OECD's Services Trade Restrictiveness Index and by providing estimates of Mode 3 Services trade impacts. The analysis of the Agreement as negotiated, the present study, in our view, is a step forward in understanding the impact of modern free trade agreements.

Long-run Effects of the Korea-China Free-Trade Agreement

  • Kim, Sunghyun;Shikher, Serge
    • East Asian Economic Review
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    • v.19 no.2
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    • pp.117-142
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    • 2015
  • This paper uses a 53-country 15-industry computable general equilibrium model of trade to analyze the effects of the Korea-China free trade agreement on the Korean economy, the manufacturing sector in particular. The model is based on Yaylaci and Shikher (2014) which uses the Eaton-Kortum methodology to explain intra-industry trade. The model predicts that the Korea-China FTA will increase Korea-China manufacturing trade by 56%, manufacturing employment in Korea by 5.7% and China by 0.55%. The model also predicts significant reallocation of employment across industries with the Food industry in Korea losing jobs and other industries there gaining jobs, with the Medical equipment industry gaining the most. There will be some trade diversion from the ASEAN countries, as well as Japan and the United States.

A Study on Awareness and Responses of Korean Textile Firms against Korea-US FTA

  • Ha, Ju-Young;Ku, Yang-Suk
    • Fashion & Textile Research Journal
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    • v.16 no.4
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    • pp.588-595
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    • 2014
  • The purpose of this study was to investigate the awareness levels of Korean textile companies and develop appropriate response plans for the Korea-US Free Trade Agreement. Through such, the study aims to explore practical and realistic directions that the Korean textile industry must take in the future. As for the research method, a survey on the Korea-US Free Trade Agreement was conducted to 50 Korean textile companies which mainly deal in textile exports. Results showed that Korean textile companies possess above average awareness for the Korea-US Free Trade Agreement and carry the perception that the FTA has thus far had a positive effect of market revitalization and contributions to sales. Nonetheless, perceptions on the needs for the Korea-US Free Trade Agreement and level of awareness were below average while government assistance seen to be unsatisfactory. Such results suggest that measures for successful access to the U.S. market require developing products customized for the U.S. market and creating new market opportunities by participating in U.S. exhibits and shows. In addition, textile companies must develop their abilities for self-sustainability through continuous FTA related programs provided by government in addition to investing efforts to understand global markets within companies through response measures on the FTA as a whole.

A Study on the Interpretation of FTA Rules under WTO Agreement (WTO 협정하에서 FTA 체결의 정합성에 관한 연구)

  • Park Jong-Sam
    • Journal of Arbitration Studies
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    • v.15 no.3
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    • pp.233-266
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    • 2005
  • The world trading system has been under many changes in recent years. One notably important development is that much attention away from the multilateralism-oriented World Trade Organization towards FTA(Free Trade Agreement). The Free Trade Agreement signed between korea and chile formally have been come effective for free trade in goods and services as from April 1, 2004. During Free Trade Agreement negotiations between both countries. This study aims at presenting the suggestion for the Korea to make the WTO rules and FTA by analyzing The interpretation of FTA under WTO System. It was founded by the investigation of WTO rules, most of the provisions are similar with other FTA, but a little provisions different from other FTA's. It is an appearance from the contracting party's peculiar circumstances such as state of industrial development or future prospect, conditions around international trade. The whole world has entered the new stage of bilateral and multilateral FTA. The essential or new generation or bilateral and multilateral FTA is creating more trade opportunities, promoting all factors, commodity, service, capital, technology and talent freely flow through canceling the trade barriers between FTA, in order to develop together within the regions. It shows that the cooperations transfer form the whole region into FTA. FTA makes not only the free trade smooth ,but also takes place the trade distortion effect. especially as the agriculture has a speciality each country, should it is ignored in negotiation, many reactions will be occurred in the process of fta Therefore Korea needs to deliver the message that Korea's hub is an essential ingredient for an efficient FTA and WTO system in a bilateral and multilateral win-win framework. Consequently Korea should have criterions about the rules of FTA and WTO system for peculiar circumstances of Korean economy and international trade.

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Potential Economic Impacts of the Vietnam-Korea Free Trade Agreement on Vietnam

  • Phan, Thanh Hoan;Jeong, Ji Young
    • East Asian Economic Review
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    • v.20 no.1
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    • pp.67-90
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    • 2016
  • This paper provides an assessment of the potential economic impacts of the Vietnam-Korea free trade agreement on Vietnam, by using general equilibrium modeling. The results show that Vietnam-Korea FTA will increase aggregate welfare for both countries in the long run. The most important gains accrue from better allocation of resources consequent to trade liberalization. All the sectoral differences and changes are consistent with the trade profiles of the two countries, and the long-run results are more pronounced than those of the short-run. In comparison with other ASEAN countries, the CGE analysis suggests that Vietnam's agriculture exports to Korea would especially rise in the long run. However, there will be strong competition in this sector among ASEAN members. Thus, an earlier conclusion of a comprehensive FTA with Korea is expected to be a good strategy for Vietnam, so as to avoid the direct competition with ASEAN members in the future.

On the Factors and Economic Situations about the Concluding of Free Trade Agreement between South Korea and Mongolia (关于韩·蒙自由贸易协定缔结的因素和经济现状研究)

  • Pea, Sang-Muk;Pak, Yeo-Sun
    • Industry Promotion Research
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    • v.1 no.2
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    • pp.129-136
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    • 2016
  • South Korea and Mongolia are both the member countries of the World Trade Organization, but neither was the country with FTA. Nowadays, South Korea widely concludes the FTA with other countries, and the trade area has extended toward the neighboring continents and seas. Mongolia is a country with smallest economic entity but large in area and with abundant underground resources. And it's a main strategic zone of Eurasia. After the disintegration of the Soviet Union, Mongolia began to turn to market economy, and eagerly made effort to open and reform. With the expanse of trade and economy cooperation between South Korea and Mongolia, Mongolia started its sea road expanding. And the south Korea went to inland to get the necessary resources. Both of them feed its needs and obtain its profits.

An Analysis of the Effect of Korea-China Free Trade Agreement on Korea's Fisheries Trade (한.중 FTA 체결 시 관세 철폐가 우리나라 수산물 교역에 미치는 영향)

  • Kim, Ki-Soo;Lee, Sang-Sook
    • The Journal of Fisheries Business Administration
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    • v.43 no.2
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    • pp.1-14
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    • 2012
  • The main purpose of this study is to analyze the effect of Korea-China free trade agreement(FTA) on Korea's fisheries trade using the partial equilibrium analysis model of Feenstra(1995). The study tries to show the impact on trade flows and welfare of the elimination of tariffs Korea-China FTA on Korea's fisheries sector among several scenarios of trade liberalization. The results of the study indicate that the increase of fisheries export to China is lower than that of fisheries import from China. Therefore Korea-China FTA results in the decrease of domestic of fisheries production even though total welfare effect is positive. The study suggest several policy proposals for soft-landing of Korea-China FTA on Korea's fisheries sector. One of them is to lengthen the term of tariff elimination to minimize the impact on domestic fisheries sectors.