South Korea's Subsidies And Countervailing Legal System Research

Objective factors such as population and resources has brought South Korea an insufficientdomestic demand, therefore Korea developed an export-oriented economic model. As early asthe mid-1960s, Korea has established a basic national policy of "export is priority" and "trade isfoundation". Korean highly depends on foreign trade, and in the year of2010the foreign tradeeven recorded87.9%. In trade with China, Korea is China’s third largest trading partner andthird largest export market and second largest import market; China is Korea’s largest tradingpartner. With the intensified international competition, more and more anti-dumpinginvestigations and anti-dumping measures against China have been taken by Korea. AlthoughKorea haven’t initiated countervailing investigations against China, as the internationalcountervailing measures are in the ascendant, while the "anti-dumping and countervailing"measures have taken out one after one, a research on Subsidies and Countervailing System ofKorea may provide some reference for China’s response to Korea’s future countervailinginvestigations.This thesis is an opening for Chinese academy to give a comprehensive introduction to"subsidy and countervailing measure" system of Korea. The study of Korea’s anti-dumpingsystem in China began last century, but due to some reasons the study on Korea Subsidies andCountervailing system still remains in blank. The fact that the number of anti-dumping cases areten times more than countervailing cases, making the study of anti-dumping system seems tohave more practical significance, is partly responsible to this situation. Especially South Koreahas no practice of countervailing measures, but just complies with the procedure ofanti-dumping measures system. This may be another reason of why there is no study oncountervailing system of Korea. However, since the beginning of the21st century, countriessuch as Canada, the United States began to take countervailing measures even "anti-dumpingand countervailing" measures against China. Under this kind of situation the study of theSubsidies and Countervailing System became a must.Chapter1of the thesis analyzed the legal system and development history of subsidy andcountervailing measure system of Korea, and made a comprehensive introduction to theorganization and function of Korea Trade Commission. Chapter2is based on Korea <CustomsAct>,<Customs Act Decree>,<Enforcement Decree of Customs Act>, and other legaldocuments issued by Korea Trade Commission, also with reference to WTO <Agreement onSubsidies and Countervailing Measures>. The study is carried out through comparative analysis and legal provisions analysis, introducing the legal provisions of countervailing measuressystem of Korea. Chapter3does a detailed research on the procedure of the countervailinginvestigation and measures of Korea. Chapter4explained the practice situation ofcountervailing investigation and measures of Korea, analyzed the policy stance of Korea oncountervailing measures system, making reasonable predict on its future movement. The thesisis finished with reference to the large number of dissertations, periodicals, website information,documents, cases, laws and regulations.