What Implications Can the Korean Economy Obtain from EU Expansion into the CEECs?

What Implications Can the Korean Economy Obtain from EU Expansion into the CEECs?

This paper examines the importance of a newly enlarged EU market and economic implications for the Korean economy. First, we show the profitability of this market by analyzing trade effects, factor movements, and GDP convergence. Second, the outlook of the major three markets – Poland, Czech Republic, and Hungary - amongst new member states is closely investigated in terms of investment opportunity, the relation of trade and investment between Korea and each of three new member states, and their economic situation. We provide the research of intra-industry structure and changes in term of trade between Korea and all of the aforementioned countries. JEL Classification: F14, F40