Trade policy of the Republic of Korea: searching for the balance between regional and multilateral liberalisation

Abstract

This research deals with some of the issues relating to Korea’s trade policy. Au- thors focus on how GATT participation aided Korean development in the ear- ly stages of growth and reasons why the government turned to FTA policy in 2000’s. The paper argues that current domestic and international environment opens new opportunities for Korea to maximize economic benefits through wider engagement in the multilateral trading system, therefore it is ready to play a more active role in various arrangements and pledged its commitment for Doha round completion. However, prospects that regional dimension of Korea’s trade policy will deepen cannot be abolished fully since government might decide positively on TPP participation.