Initiatives on US-Korea FTA and future prospects

초록

The U.S. is Korea’s most important trade partner, but also its greatest source of trade friction. This paper concludes that the U.S. and Korea would gain benefits from a bilateral FTA, especially substantial political and strategic meaning for both countries. If we take into consideration both economic and non-economic importance, the U.S. and Korea should begin their discussions on a bilateral FTA soon, as it will still take years to conclude an agreement if the U.S. and Korea were to start discussion now. The timing of the conclusion of FTA would be a more critical issue than content in view of the rapidly changing global trade environment.