Difference between revisions of "More opening of South Korean economy to the world - Group 4"
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== 6. Timing == | == 6. Timing == | ||
2004 – FTA between South Korea & Chile | 2004 – FTA between South Korea & Chile | ||
2007 - FTA between South Korea & Japan | 2007 - FTA between South Korea & Japan | ||
Revision as of 06:07, 2 June 2005
1. Description
Basically South Korea economy lead by export and that phenomenon will more grow because economic structure and free market system will more open to world through such as FTA with Japan & China & other nations. South Korea relies largely upon export to fuel the impressive growth of its economy, with finished products such as electronics, textiles, ships, automobiles, and steel being some of its most important exports. South Korea's economy has relied almost equally on exports and local demand. Exports contributed 98.2 percent to the growth, a sharp rise from 42.7 percent a year earlier. The data means that the country's economy could not grow without export expansion. This year, South Korea's exports continued to increase sharply, jumping 67.4 percent year-on-year. South Korea's exports in April jumped 38 percent year-on-year to a record $21.7 billion, extending the country's trade surplus for the 13th month in a row.
2. Enablers
FTA with Japan and China and other countries Bush administration’s economic police that press FTA & free market system to the world World economic structure such as WTO system South Korea’s economic structure that rely on export
3. Inhibitors
N/A
4. Paradigms
Current WTO system and FTA movement in world economy press South Korea economy to open the market and already it much opened and will open more.
5. Experts
South Korea Foreign Affairs and Trade Minister Ban Ki-moon
Woo Seong-ji, professor at Seoul’s Institute of Foreign Affairs and National Security
Jang Jip CHOI, director of the Asiatic Research Center
Carter J. ECKERT, Korea Institute, Harvard University
Balbina Y. Hwang, Policy Analyst for Northeast Asia in the Asian Studies Center
Anthony B. Kim, Research Associate in the Center for International Trade and Economics
6. Timing
2004 – FTA between South Korea & Chile
2007 - FTA between South Korea & Japan