미국 FTA 금융서비스 분야 경향과 우리의 대응

Abstract

Korea has completed free trade agreements (FTAs) with Chile, Singapore and EFTA. The US has completed FTAs with Canada and Mexico (NAFTA), Australia, Morocco, Chile, Singapore, and many other countries. The US's negotiations are under way or about to begin with 11 more countries, including Korea. Korea and US announced in February 2006 the intent to negotiate a FTA. The official negotiations for the so called KORUS FTA was commenced in June 2006. The KORUS FTA negotiation is in progress under section 2104(a)(1) of the Trade Act of 2002. For the financial services including banking, insurance, securities and related services, the two countries need to negotiate in the areas of national treatment, most-favored-nation treatment, market assess, cross-boarder trade, new financial services, non-conforming measures, regulations, and dispute settlement. The US understands that KORUS FTA is very complex and the most commercially significant free trade negotiation. This article draws lessons by analysing the FTAs of US-Singapore and US-Australia. The US-Singapore FTA is the US's first FTA with an Asian nation. The US reckons that the US-Singapore FTA will serve as the foundation for other possible FTAs in Asia. The US-Singapore FTA is also completed under the Trade Act. Australia is a member of APEC and its financial services is well developed. Chapter Ⅱ analyses the FTAs of US according to the agreement's structure and the important subject matters. Chapter Ⅲ presents lessons from the US's FTAs with Singapore and Australia. This article conclude that the US will try hard to open Korean financial market, including new financial services and cross-boarder financial services. This article argues that Korea needs to improve its regulatory transparency and to establish more effective regulatory and supervisory measures for the cross-boarder financial services and the new financial services.