한우산업에 대한 한미 FTA의 파급효과

The Effect of Korea-US Free Trade Agreement on Hanwoo Industry

This study analyzes the effect of Korea-U.S. Free Trade Agreement on Hanwoo industry. Hanwoo industry is adequately modeled to investigate the changes in revenue of the beef producers based on the multimarket partial equilibrium framework. The structural model is composed of the demand and supply functions at each different levels of Hanwoo industry. This paper finds that Hanwoo industry will bear the reduction of revenue by 413~584.7, 318.5~458.1, and 218.2~307.2 billion Won in the case of non-tariffication, 10% tariff reduction, and 20% tariff reduction, respectively. These estimates are sensitive to the cross price elasticity between domestic and imported beef.