Agricultural and Biological Sciences
5 years ago

Korean Farmers Brace for Devastating Income Losses from China-Japan-Korea Trade Deal

Journal of Rural and Development
Effects of FTA Among China, Japan and Korea on Agriculture
Myong Keun Eor, Bae Sung Kim, Joo Myung Heo

Paper Summary

The Free Trade Agreement among China, Japan, and Korea affects Korean agriculture. A simulation model predicts a decrease in total agricultural income of 14-22% in 2014, depending on the FTA coverage. Excluding rice from the FTA lessens the impact. The agreement may lead to increased agricultural trade deficits with China and decreased trade surplus with Japan.

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