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3 years ago

ASEAN-Korea Free Trade Area Boosts Korean Trade Balance with ASEAN

International Area Studies Review
An ex-post analysis of trade effects of the ASEAN–Korea Free Trade Area (AKFTA) from Korea’s Perspective
Ga Eun Lee, Innwon Park

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The ASEAN–Korea Free Trade Area (AKFTA) has been beneficial for Korea, increasing trade balance with ASEAN countries. The AKFTA promotes trade within the bloc and with non-member countries, without diverting trade. The trade effects vary between manufacturing and services industries, with services seeing greater benefits. To maximize trade gains, adjustments to trade-in services provisions are recommended.