FTA - Korea and the US have been working on a Free Trade Agreement between to the two countries.
FTA란 무엇이고 이것은 한국에게 어떻게 유익할 것이며 어떻게 해로울 것인가?
FTA에 대해 저의 생각을 정리한 글입니다.
FTA - Korea and the US have been working on a Free Trade Agreement between to the two countries. What do you think of such an agreement? How will it help Korea? How will it hurt Korea? Give your opinion of the advantages and disadvantages of a Free Trade Agreement. Give specific examples to support your opinion.
FTA means agreement of excluding all of trade barriers for free trade between nations. The meantime, all of the country had a trade barriers for defend their industry. But some nations contracted FTA, because they want to increase for their mutual trade benefit. EU is typical FTA. In fact, the center of world economy is US. But recently countries of Europe contract FTA with each other, the center of world economy transfers bit by bit. Now, value of US dollar go down again and again, but value of euros go up steadily. It shows that success of FTA with Europe countries. US also contracted FTA with Canada and Mexico. It is called NAFTA. NAFTA means combination of Canadian resources, American capitals, and Mexican labors. It also fulfill for their countries benefits. Now, all of member nations of WTO contracts FTA with other country.
Korea also contracted FTA with 3 country. Korea government contracted FTA with Chile in April, 2004. Korea also contracted FTA with Singapore in March, 2006, and contracted FTA with EFTA(European Free Trade Association) in September, 2006. When FTA with Chile propelled, Korean farmers strongly opposed. Because that FTA contents means that Korea can export competitive goods of industry to Chile, but it also means Chile can export to Korea competitive goods of agriculture. So that FTA can damaged Korean farmers. But it contracted because Korea is nation of industry, not nation of agriculture. And now, Korea government starts to negotiate FTA with US. US request Korea opening of agriculture, movie, medical treatment, education and other items.