| ID | 078846 |
| Title Proper | Forming a cross-regional partnership |
| Other Title Information | the South Korea-Chile FTA and its implications |
| Language | ENG |
| Author | Park, Sung-Hoon ; Koo, Min Gyo |
| Publication | 2007. |
| Summary / Abstract (Note) | CRTAs have become a main feature of South Korea's newly found enthusiasm for a multi-track FTA strategy. In this study, we examine the rise of South Korea's aggressive FTA initiatives, with a special focus on the first cross-Pacific FTA, namely the South Korea-Chile FTA, and draw implications for South Korea's other RTA initiatives. South Korea's motivations to pursue CRTAs are complex. These include economic, political and diplomatic/leverage motives. South Korea's policy departure from its long-standing support for the multilateral trading system began with its FTA negotiations with Chile, a country located on the opposite side of the globe. Aside from the South Korea-Chile FTA, South Korea has been negotiating a number of other CRTAs. Most importantly, South Korea and the US began to negotiate a bilateral FTA in June 2006, the successful conclusion of which will have significant economic and strategic repercussions not only for South Korea but also for its neighbouring East Asian countries. The economic and strategic motivations of the political leadership, as well as the new bureaucratic balance of power centred on the Office of the Minister for Trade, have played a significant role in South Korea's dramatic rush toward RTAs. Although South Korea's pursuit of RTAs does not necessarily mean that it has completely abandoned the multilateral trading system, the policy departure is increasingly becoming obvious and significant. |
| `In' analytical Note | Pacific Affairs Vol. 80, No.2; Summer 2007: p259-278 |
| Journal Source | Pacific Affairs Vol. 80, No.2; Summer 2007: p259-278 |
| Key Words | Regional Cooperation ; South Korea ; Chile ; Trade ; Negotiation |