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Korea's Mid- to Long-Term Economic Strategy for the North America economic cooperation, trade policy

Author Junkyu Lee et al. Series 07-20 Language Korean Date 2007.12.30

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Korea concluded a free trade agreement (FTA) with the United States (KORUS FTA) in June 2007 and Korea is expected to conclude an FTA with Canada in 2008. The KORUS FTA is the most comprehensive FTA among any Korea has ever concluded. The Korea-Canada FTA is supposed to achieve a level of commitment very similar to that of the KORUS FTA. It is even discussing a chapter on Temporary Entry of Natural Persons, which could contribute to the movement of business persons, traders, and professional service suppliers. Because of these FTAs with North American economies such as the US and Canada, Korea's economic relationship with these countries will be different from what they once were. New economic, legal, strategic, and political horizons will arise from the previous one without an FTA between Korea, Canada, and the United States. (The rest is omitted.)

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