Trade and Investment between Korea and EU after the Korea-EU FTA and Its Prospect

9 Pages Posted: 4 Oct 2013 Last revised: 6 Apr 2017

See all articles by Yoo-Duk Kang

Yoo-Duk Kang

Korea Institute for International Economic Policy

Jun Kim

Korea Institute for International Economic Policy

Date Written: September 27, 2013

Abstract

Bilateral trade between Korea and EU has been increasing with the exception of the period of the global financial crisis (2009) and Korea has enjoyed trade surplus since 1997. At the time when negotiations were launched for the Korea-EU FTA in 2007, EU was Korea’s second largest trading partner and the site of the most significant trade surplus gain for Korea, whose trade balance amounted to USD 19.1 billion. Since the global financial crisis, Korea’s trade surplus with EU, however, has been gradually decreasing. Korea’s import from EU increased by 21.3% per year in the period of 2009–2011, while its export to EU increased only at an annual rate of 9.3% in the same period of time. In 2012, Korea’s export to EU was USD 49.4 billion, while its import from EU was reported to be USD 53.6 billion.

Suggested Citation

Kang, Yoo-Duk and Kim, Jun, Trade and Investment between Korea and EU after the Korea-EU FTA and Its Prospect (September 27, 2013). KIEP Research Paper. World Economy Update 13-44, Available at SSRN: https://ssrn.com/abstract=2335830 or http://dx.doi.org/10.2139/ssrn.2335830

Yoo-Duk Kang (Contact Author)

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Jun Kim

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

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