Legal Regime for International Trade in Korea

초록

The Korean legal regime for internatonal trade is fairly on a par with those of advanced countries. Agricultural sector is still somewhat protected with relatively high tariffs, but these rates are being lowered and all products wxcept for rice are open to imports. That Korean legal regime is relatively in good shape does not mena that the regime is failsafe. The globalized world is not a safe place to live and the present global marketplace is much unnstable in absence of appropriate institutional and legal framework to ensure its stability and effectiveness. Urgently needed is multilateral efforts to come up with necessary intitutional framework for the globalized market, in particular, the financial market, which can destabilize any national economy overnight.