The Progress of FTAs in East Asia and Korea’s Approaches to Regionalism

초록

In 1998, Korea announced its plan to proceed with an FTA with Chile and also began a joint study with Japan. The Korea-Chile FTA negotiations were launched in December 1999 and concluded it in October 2002. In addition to the FTA with Chile, Korea is under negotiation for bilateral FTAs with Japan and Singapore. Discussion on an FTA with Japan started in 1999, and various studies have been done between two countries, including the Joint Study by Korea Institute for International Economic Policy (KIEP) and Japan’s Institute for Developing Economies (IDE), the Korea-Japan FTA Business Forum, etc. Leaders at the Japan-Korea summit held in October 2003 agreed to start formal negotiation for a bilateral FTA. The two countries finished the third round of official negotiations in Seoul April 2004. Korea is also actively looking for the establishment of FTAs with major trading countries. This paper overviews Korea’s FTA policies, focusing on a Japan-Korea FTA and an Australia-Korea FTA.