한·중 자유무역협정(FTA)의 효과에 관한 연구

Abstract

Nowadays under the complex world's trading circumstance, regionalism through FTA has become the mainstream forces of the world trading system. A Korea and China have recently announced policy goals to pursue a number of FTAs simultaneously as a way of national strategies. China is Korea's neighboring country that has become the largest trade partner, and has an immense potential for future economic growth. A Korea-China FTA will contribute to economic growth of Korea which relies heavily on the foreign export market. Korea aims at implementing comprehensive FTAs involving tariff elimination, service, investment and intellectual property rights to bring its best effects to the nation. In this context, China can be a highly beneficial FTA partner for Korea. An FTA with China is a key issue of economic cooperation in order to confront soaring Chinese competitiveness in international markets. Korea-China FTA will allow Korea easy access to a huge market and reduce the one-sided safeguards of the Chinese government, which will in turn improve Korea’s balance of trade. In addition, it is expected that the economic growth of China can play an important role in Korea’s economic growth through a high degree of specialization of industry structure, and improvement of efficiency of investment toward China. A Korea-China FTA has many implications, such as increasing the trading volume and potential economic growth. It is obvious that Korea-China FTA would provide a new impetus for growth. Korea needs to focus on the protection of labor-intensive industries, enhance the competitiveness of the small and medium enterprises, and increase exports, combining large corporation's exports into the small and medium enterprises sales. The positive benefits of free trade are increasing effectiveness through expanding the market and encouraging competitiveness. It will provide Korean companies with the distinct opportunity to work in China. To maximize the net effects of a Korea-China FTA, Korea and China should both accelerate vertical integration within industries to increase intra-industry trade. This kind of restructuring of intra-industry divisions can help to avoid domestic deindustrialization. Also, it is necessary to consider the fact that such a policy causes domestic demand and exports to develop at the same time. Benefits from foreign policy can be achieved not by destroying the domestic industry, but by developing an industry for domestic demand. It is highly important to approach a Korea -China FTA with the strategic combination revitalizing domestic investment, promoting human resources, improving technology by R&D investment, and securing the macro-economy into establishing potential growth, trade volumes, and a positive transition of trade structuring.