The Meaning and Future of the FTA between S. Korea and China

Globalization is defined as the increasing process of interdependence and interconnected between different political, social and economic components of the world. It is the way in which the world is seen as the global village. Globalization becomes a worldwide system because it integrates people across their national boarders making the world operate as a village and therefore making free movements of goods, capital and information (MbT, 2016). This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world (The Levein Institute, 2015). From the FTA between S.Korea and China, it can be concluded as follows. First it is development of economic relations between two countries and economic co-operation in Northeast region, and second, it is also win-win strategy which gives both countries GDP increase and economic benefit, third, structural arrangement should be needed for industry under protection, and finally it is mutual investment between two countries and investment attraction to 3rd countries.