A Comparative Study on Trade Facilitation Policies in Free Trade Zone of China and South Korea

Since 2017, China’s free trade zone has been growing vigorously and 11 free trade zones have been formed. This is also a very important foreign trade strategy in China. And the trade facilitation reform has been carried out in full with the establishment of China’s Free Trade Zone as well. South Korea, the neighboring country of China, established a free trade zone as early as 2000 through legislation, and it has been more than a decade old. From the point of view of law and history, this paper studies the influences of national economic development strategy and industrial development plan to the trade facilitation policy of South Korea’s Free Trade Zone through reviewing the development history of trade facilitation in South Korea’s Free Trade Zone relying on the analysis framework of regional economics. The impact has promoted the transformation and upgrading of South Korea’s industrial structure, as well as promoted South Korea’s economic growth. In addition, the credit system, statistics, and monitoring and evaluation work need to be strengthened. It is also necessary to further enhance the awareness of the whole society on e-commerce, and to further explore the law of economic activities in cyberspace. At the same time, the paper compares and analyses the trade facilitation policies between China and South Korea, thereby exploring beneficial experiences in the construction of China’s free trade zone.