• Review of Culture and Economy
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• v.21 no.2
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• pp.29-51
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• 2018

The Korea-USA FTA was activated in 2012 and evaluated highly on market-opening among FTA agreements which the Korea government has signed. This paper empirically examines the impact of the Korea-USA FTA on the Korea content industry trade performance with USA. Using ANOVA analysis, the study tested primarily whether there are difference in content exports and imports in a korea-US trade between before and after of Korea-USA FTA in 2012, the year of the entry into force of Korea-USA FTA. Using content industry exports and import data over the period 2007-2015, we find that Korea content export to US after 2012 is significantly different from one before 2012, and there is no difference in import. Based on a regression analysis, we also tested the impact size of Korea content export performance in Korea-USA FTA. The result is that coefficient of FTA dummy variable is not significant, meaning that even though there are some difference in korea content export to US between before and after of Korea-USA FTA, the Korea-USA FTA agreement itself is not a key factor which increase the Korea content export volume to USA market.

• International Commerce and Information Review
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• v.15 no.4
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• pp.217-240
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• 2013

The investment environment in Korea and U.S. dramatically changed since Korea-US FTA. The key reasons for this successful change were liberalization and strengthened protection of investment along with trade liberalization which also brought investment market expansion. As the result of trade-diversion effect, investments between two countries have been enormously increased. Through a FTA with the big economy like US, Korea's FTA network has been largely expanded. Korea further needs to utilize this outcome when competing with other countries in investment markets.

• Korea Trade Review
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• v.41 no.5
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• pp.255-283
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• 2016

This paper empirically analyzes the relationship among the perception variables on the EU and Korea-EU FTA. According to the empirical results, first of all, while Korean university students understand the importance of EU less than those in the US or Japan, they understand the importance of EU more those in China. The understanding and importance of Korea-EU FTA are measured somewhat lower than Korea-US FTA. Second, Contingency Tables show that there exist some associated relationships between the sex and the understanding of the regions, and Korean university students have some differences in understanding the importance of the EU by sex. ANOVA shows that the more they understand the EU and recognize the importance of Korea-EU FTA, they recognize that the Korea-EU FTA's contribution to Korean economy and EU's & EURO's contribution to world economy will be bigger. Third, the cannonical correlation test shows that by the academic grade and sex there are some significant differences in understanding the importance of the EU and main countries and regions. The discriminant analysis shows that there exist some differences in recognizing the contribution of Korea-EU FTA's to Korean economy.

• International Area Studies Review
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• v.13 no.2
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• pp.618-642
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• 2009

Currently the nations which join the WTO shall observe understanding on rules and procedures governing the settlement of disputes in WTO agreement. In addition this agreement provides it will be able to apply dispute settlement mechanism of the WTO. Korea and the United States are accomplishing an important role as the core members of the WTO. Regardless of this, The Korea - US FTA is providing a separate dispute settlement system. This paper pursues a comparative analysis concerning rules and procedures of dispute settlement between The Korea - US FTA and the WTO, and furthermore derives problems from the viewpoint of effectiveness, and suggests alternatives and implications in view of trade policy. I hope this study contributes to setting-up and development of national trade policy and is applied to FTA negotiation hereafter.

• Journal of Arbitration Studies
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• v.27 no.2
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• pp.3-18
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• 2017

International legal reviews on ISD, a procedure for resolving disputes under the Korea-US FTA, are examined from the perspective of law. If the ISD system does not exist, even if the investor suffers damage due to the illegal act of the host country, he or she must file a lawsuit through the court of the host country, which is unreasonable from the investor's point of view and makes it difficult to guarantee fairness and transparency. Some of the Koreans pointed out that there are some problems with the KORUS FTA dispute settlement regulations, and that the United States federal courts are taking a friendly attitude to the decisions made by the US Customs in determining the dispute by the KORUS FTA Agreement and the US Customs Act. In cases where the State does not violate international law but results in harmful consequences, the responsibility of one country is borne by the treaty. Foreign investment always comes with many challenges and risks. Therefore, the ISD system is a fair and universal arbitration system, which is considered to be a necessary system even for protecting the Korean companies investing abroad. In the investment treaty, compensation for the nationalization of foreign property and reimbursement under the laws of the host country were dissatisfied with foreign investors. In particular, some Koreans have pointed out that there are some problems in the KORUS FTA dispute resolution regulations and there is a need for further discussion and research. Based on the experiences and wisdoms gained in the course of Korea-US FTA negotiations, the dispute arbitration mechanism is urgently needed to reduce the possibility of disputes and to make amicable directions.

• International Commerce and Information Review
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• v.11 no.3
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• pp.363-390
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• 2009

This study investigates the role of private participation in FTA Negotiation in case of US, Mexico and Japan. We utilize Putnam(1988)'s two stage negotiation model, Schelling Conjecture and Principal-Agent(P-A) theory to understand the role of private sector in FTA Negotiation. Those theories are useful to understand the behavior and interaction of key players such as private sector, congress and government in FTA negotiation. Putnam(1988)'s two stage negotiation model divides the FTA negotiation process into two processes: the external negotiation with foreign country and domestic negotiation with domestic interest group. Principal-Agent(P-A) theory provides the theoretical foundation of Putnam's two stage negotiation model, which is that principal's interest is not identical to the interest of Agent. We showed that the private sector and congress play an important role in FTA negotiation in United States. In case of Mexico, the private sector and government occupy the dominant position in FTA negotiation. In particular, the cooperation of industry and government has been successfully established via COECE in Mexico. In contrast to these countries, the role of private participation in trade policy is relatively low in Japan and Korea.

• Journal of the Korean Data and Information Science Society
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• v.20 no.6
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• pp.1029-1048
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• 2009

The purpose of this study is to diagnose the level of perception of domestic construction companies about the US & Korea FTA completed in 2007. According to the survey results, the more innovative the construction company is and the stronger ownership the construction company has, the more actively preparing for FTA. Altogether, our construction companies have well recognised the inevitable impacts on the domestic construction industry. On the other hand, most of them are more or less negative about whether or not the FTA gives us a good chance to switch from domestic companies into global companies.

• East Asian Economic Review
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• v.26 no.1
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• pp.27-48
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• 2022

In the past decade, Korea and Japan have increasingly exhibited different strategic priorities in trade in face of China's rising global economic prowess and worsening US-China trade conflict. Japan's trade policy decisions have worked to reinforce its economic and security ties with the US as a means to counter China. Japan has used both bilateral and multilateral means to secure its ties with the US against China. In contrast, Korea's trade policy positions have been one of 'strategic ambiguity'. Korea has been more conciliatory towards China, reluctant to take actions that would counter China's interest. Korea has mainly resorted to bilateral channels to maintain favorable relations with both China and the US. Korea's reluctance to clearly ally with the US against China has been observed across different administrations with opposing political orientations. This paper examines Korea and Japan's diverging strategic priorities in trade through the 2017 World Trade Organization Ministerial Conference; the 2017 US imposition of Section 232 on steel; the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, the Korea-US FTA renegotiation and the Korea-China FTA Phase Two Negotiation; and the 2019 Japan-US Trade Agreement.

• International Commerce and Information Review
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• v.15 no.1
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• pp.309-330
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• 2013

Trans-Pacific Partnership started as a small scale 4 countries regional trade agreement. It became a grand free trade agreement when the United States announced its participation and Japn considers to join. Korea still hasn't decided the stance however, considering the economic and political relationship with the United States and the impact of TPP, it looks like that Korea is going to join TPP. US led the TPP agreement is expected to be made based on the previous FTA agreements of the US. In the promising E-Commerce part, it is likely that the e-commerce leading US would suggest favorable agreement. If Korea joins the TPP, it's necessary to suggest what Korea wants and needs based on the previous KORUS FTA to promote Korean e-commerce for the future.

• International Commerce and Information Review
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• v.14 no.4
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• pp.409-431
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• 2012

This article deals with the nature of ISDS along with the admissibility thereof, for the settlement of investment disputes between states and nationals of other states. ICSID as an organization of World Bank Group, has been established in 1966 and as of May in 2011, 157 nations ratified its convention. As for the Republic of Korea(ROK) it has been involved in the problematic situation with regard to ISDS of the KORUS FTA in negotiation with the United States. The ruling Grand National Party is pushing the FTA for ratification including ISDS. However, the opposition party, the Unified Democratic Party rejected the ISDS with a view to a toxin infringing on its judiciary sovereignty. The ROK has invested in the US 3.5 times more than the US did in Korea up to now. As a result, it seems that the ROK is more concerned about ISDS than the US is, considering that exhausting local remedy through the US local courts, applying even a municipal ordinance in their decisions which will be unsatisfactory toward the ROK side. The ROK is now struggling with the ISDS as a political issue between the ruling party and the opposition party mostly based on sovereignty with a reference on AUSFTA which excluded the ISDS. Australian model about ISDS has been impacted by the experience from the NAFTA which allowes direct claims against each other(the US against Canada and Canada against the US). It seems not to be much sympathy for developed countries because it has long been held to standards for pressing on developing countries. Australia is also struggling with ISDS from the political point of view likewise the ROK. And the ISDS is destined to the political situations established within the domestic countries among the political parties in relation with the acceptance or rejection of thereof.