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Policy Of Foreign Economic Cooperation Of The Government Of The Republic Of Korea With Asean

Author

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  • Dok Hee OH
  • Kyung Sook GIL

Abstract

The Republic of Korea has achieved economic growth and development thanks to the benefits of trade liberalization within the framework of a multilateral trading system. However, it faced a new international trading environment with the emergence of neoprotectionism. Initially, neoprotectionism was promoted by developed countries, but now it is becoming a common phenomenon in the international trading environment. In particular, the political and economic conflicts between the United States and China are forcing a radical change in the foreign trade policy of the Republic of Korea. The prolonged confrontation between the two largest markets for the South Korean economy has reinforced the need to review the foreign economic policy of the Government of the Republic of Korea. In response to changes in the international trading environment, the Government of the Republic of Korea was forced to develop and promote new directions of foreign economic policy for the development of the multilateral trading system.

Suggested Citation

  • Dok Hee OH & Kyung Sook GIL, 2024. "Policy Of Foreign Economic Cooperation Of The Government Of The Republic Of Korea With Asean," Eastern European Journal for Regional Studies (EEJRS), Center for Studies in European Integration (CSEI), Academy of Economic Studies of Moldova (ASEM), vol. 10(1), pages 98-119, June.
    • Handle: RePEc:aem:journl:v:10:y:2024:i:1:p:98-119
    DOI: https://doi.org/10.53486/2537-6179.10-1.06
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    More about this item

    Keywords

    mutually beneficial economic cooperation; foreign economic policy; neoprotectionism; deglobalization; global value chain;
    All these keywords.

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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