Japan-Korea Free Trade Area and Structural Reforms

Bonggil Kim and Kazuhiro Igawa
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Bonggil Kim: Kobe University
Kazuhiro Igawa: Kobe University

Kobe Economic & Business Review, 2002, vol. 46, 91-100

Abstract: This paper analyzes 'formation of Japan - Korea free trade area' focusing on an economic structural reform and a mutual strategic complement aspect. Japan and Korea have similar systems in economic organizations, political decision-makings, and social cultures. Those systems were effective for catching-up stages of economic developments, but have become inefficient, sometimes have become fetters, after catch-up stages. Japan-Korea Free Trade Area formation could be one of strong impacts for structural reforms in both countries for more efficient systems in a developed and competitive global economy. The similarities between Japan and Korea will become strong points or advantage in forming the FTA. Joint strategies against EU and US, and more importantly against China, will be beneficial for both Japan and Korea. Japan, Korea and China jointly could be a core of third pole in Asia, with US pole and EU pole. J-K FTA formation will be one of bases for this

Keywords: Free Trade Area; Structure Reform; Global Competitiveness; Safety net (search for similar items in EconPapers)
JEL-codes: F02 F14 F15 (search for similar items in EconPapers)
Date: 2002
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