The evolution of the Republic of Korea's trade policy is at a
critical juncture. The Republic ( referred to simply as 'Korea'
hereafter) is a trade-dependent developing country with a large
stake in the smooth functioning of the international trading
system. Compared to many other developing countries, Korea is
also a relatively large and industrialized country-- being asked
to accept equal partnership with developed countries as members
of the international trading community. By absolute standards,
though, having experienced a sustained development for just
over two decades the economy and its industries are on the
whole yet far form mature.
Accordingly, Korea's trade policy authorities are under
conflicting pressures inside and outside the country in steering
the country's trade policy and negotiations. This paper attempts
to develop and overall perspective on major trade policy issues.
Section Ⅰ reviews the recent development history of the
Korean economy as a background to the subsequent discussion.
Section Ⅱ discusses Koreas trade policy issues from an
exporter's viewpoint. Section Ⅲ discusses the country's trade
policy issues form an importer's viewpoint. Section Ⅳ discusses
the international trading system and the role of developing
countries in it on the basis of Korea's experience. Section Ⅴ
discusses further research needs.