Korea-us Free Trade Agreement (fta) And The Forecast Impact Of The China-rok Trade Relations Analysis

In the recent years, bilateral Free Trade Agreement (FTA) has been a prevailing economic presence all over the world.On June 5th, 2006, officials of United States and Republic of Korea launched the negotiation on their bilateral FTA. Althoughthere were some difficult problems, but after all Korea and US signed on Korea-US's FTA (KORUS FTA) on June 30th, 2007, which includes various issues such as agriculture, textile, automobile, service and so on.KORUS FTA emergenced on the background of their trade relationship becoming loose, their attitude of supporting participation and their own strategic purpose. The Chinese economy's swift growth and strengthened influence on South Korean and Asia encourage the US to participate FTA with South Korea positively. Although in the negotiations process there were some conflict issue, but both countries had the strategic goal, therefore after all South Korea and US FTA had been achieved. As the negotiations result, South Korea had yielded many in aspects of agricultural product, service and investment system, and the US did in aspects of automobile and textile market opening. KORUS FTA acheivement forecast there will be huge influences to both countries, and also will bring some influences to the surrounding countries. To US and South Korea, bilateral FTA will bring welfare, enhancement of competing ability and expand of the trade volume. And Kor- US FTA will help South Korea to become the business and the distribution center in Asia, simultaneously will help the US to divert China influence expands in the Asian and to enhance own force. To the surrounding countries, exports to US will recieve some negative influences.Chinese and South Korea's trade has rapidly expanded, Kor- US FTA will have affected the developing trend of China-South Korea's trade. But its impact will not be serious, although it will give China to give rise to some problems to South Korea's agricultural export. And the increaseing trade and the investment will not change. In addition China and South Korea both supports the China-South Korean's bilateral FTA, therefore China- South Korea's economic relationship continues to develop.