Information Sciology
2013052090 Tae-yong Lim
The critics of China-South Korea Free Trade Agreement
When the Korea-China FTA came into effect in 2015, Korea's President was Park Geun-hye. The Park administration has been criticized for lack of communication. The biggest criticism is that the Korea-China FTA is not well publicized and understood. At that time, the Korean government made publicity campaigns such as producing public service ads for the Korea-China FTA. On the other hand, we did not disclose information about the FTA provision actively. There are also concerns about Chinese companies' encroachment into the Korean market. In fact, the acquisition of Korean companies by Chinese companies was the best in 2015.
It is also pointed out that since 2016, the THAAD conflict has widened and the real benefits of the Korea-China FTA have disappeared.
The benefits of China-South Korea FTA
One of the benefits that the Korean government can gain from the Korea - China FTA is tariff elimination. The elimination of tariffs through the Korea-China FTA is expected to be worth more than US $ 5.4 billion per year, exceeding the KORUS FTA and the EU FTA. As China is Korea's largest exporter, it is expected to maximize its effects through FTAs. In particular, medical products and cosmetics are the most popular items in China and are expected to benefit most.
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