A Study on the Trade Situations and Improvements between Korea and Chile

A Study on the Trade Situations and Improvements between Korea and Chile

  Currently, Korea enters into FTA negotiations with major trading partners including the United States, having the FTA experience with Chile. Although the Korea-Chile FTA took six years in negotiations and ratification, it had the great significance of establishing a bridgehead to advance into the Latin American markets as Korea"s first FTA. Since the Korea-Chile FTA has been in effect only for two years, it is difficult to jump to conclusions on the effects of FTA. However, it is believed that the experience and achievement of the Korea-Chile FTA exercise a significant influence over the Korea"s FTA negotiations with major countries like America. The trading between Korea and Chile has grown after the implementation of FTA, but Korea still has a deficit in trade balance. Therefore, this study examines overall trade trends and problems after the FTfA with Chile and suggests improvements accordingly.