Korea’s Trade Intensity with Major EU Trading Countries
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This paper analyzes how South Korea’s trade intensity with her major EU trading countries (i.e., Germany, Netherlands, Italy, and France, GNIF in short hereafter) in 19 industries of the manufacturing sector changed over time for the period of 2012-2019. For this purpose, trade intensity index, trade complementarity index, and special country bias index between South Korea and GNIF were measured and analyzed by a trade intensity index model. The 6-digit level OECD trade data of Harmonized System (HS) were used as data. South Korea's trade intensity with Germany was found to increase from 0.372 in 2012 to 0.400 in 2019 due to (a) the increase in South Korea's special country bias with Germany from 0.377 in 2012 to 0.390 in 2019 and (b) the increase in South Korea’s trade complementarity with Germany from 0.987 in 2012 to 1.026 in 2019. South Korea's trade intensity with Netherlands turned out to decrease from 0.577 in 2012 to 0.474 in 2019 mainly due to the decrease in South Korea's special country bias with Netherlands from 0.603 in 2012 to 0.510 in 2019. South Korea's trade intensity with Italy turned out to increase from 0.471 in 2012 to 0.490 in 2019 mainly due to the increase in South Korea's trade complementarity with Italy from 0.910 in 2012 to 0.962 in 2019. Finally, South Korea’s trade intensity with France was found to increase from 0.226 in 2012 to 0.274 in 2019 mainly due to (a) the increase in South Korea’s special country bias with France from 0.226 in 2012 to 0.281 in 2019. Very fortunately the EU-South Korea free trade agreement (FTA) had provisionally applied since July 2011 before it was formally ratified in December 2015. Therefore both South Korea and EU countries should do their utmost in enhancing South Korea's special country bias with GNIF by (a) increasing capital movements and economic cooperation and (b) lifting discriminatory tariffs and other import restrictions between South Korea and GNIF.
Abstract
This paper analyzes how South Korea’s trade intensity with her major EU trading countries (i.e., Germany, Netherlands, Italy, and France, GNIF in short hereafter) in 19 industries of the manufacturing sector changed over time for the period of 2012-2019. For this purpose, trade intensity index, trade complementarity index, and special country bias index between South Korea and GNIF were measured and analyzed by a trade intensity index model. The 6-digit level OECD trade data of Harmonized System (HS) were used as data. South Korea's trade intensity with Germany was found to increase from 0.372 in 2012 to 0.400 in 2019 due to (a) the increase in South Korea's special country bias with Germany from 0.377 in 2012 to 0.390 in 2019 and (b) the increase in South Korea’s trade complementarity with Germany from 0.987 in 2012 to 1.026 in 2019. South Korea's trade intensity with Netherlands turned out to decrease from 0.577 in 2012 to 0.474 in 2019 mainly due to the decrease in South Korea's special country bias with Netherlands from 0.603 in 2012 to 0.510 in 2019. South Korea's trade intensity with Italy turned out to increase from 0.471 in 2012 to 0.490 in 2019 mainly due to the increase in South Korea's trade complementarity with Italy from 0.910 in 2012 to 0.962 in 2019. Finally, South Korea’s trade intensity with France was found to increase from 0.226 in 2012 to 0.274 in 2019 mainly due to (a) the increase in South Korea’s special country bias with France from 0.226 in 2012 to 0.281 in 2019. Very fortunately the EU-South Korea free trade agreement (FTA) had provisionally applied since July 2011 before it was formally ratified in December 2015. Therefore both South Korea and EU countries should do their utmost in enhancing South Korea's special country bias with GNIF by (a) increasing capital movements and economic cooperation and (b) lifting discriminatory tariffs and other import restrictions between South Korea and GNIF.
참고문헌 (12)
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