The Korea-USA FTA is extremely important to Korea, considering aspects such as politics, diplomacy, security, and economy.
The Korea-USA FTA has already reached the 4th round of talks. The purpose of this study is to submit a strategy that helps Korea lead a successful negotiation by analyzing the outstanding issues and problems of both parties.
This study is based on secondary data such as existing documentary records, all kinds of press releases and government statistics.
Through the FTA with USA, who has the biggest domestic market in the world, the Korean government has caught up with the latest slow progress of FTA with different countries and at the same time aims to establish the comprehensive cooperation partnerships with USA in economy, diplomacy and security.
The FTA with Korea is also expected to be important to USA because they realize Korea has a good trade base in Far East Asia and also realize that Korea is important in their diplomatic and military standpoints.
Accordingly, considering each party's standpoint, both of them must have a strong will for settling the Korea-USA FTA.
Though the Korean government has a strong drive for the Korea-USA FTA, they have not drawn national consensus, resulting in social conflict along with hot exhausting pros and cons. Additionally, it has disclosed several problems like the counterplans of the weak industries and damaged classes against the rush expediting of the Korea-USA FTA and also disclosed unpreparedness of the reasonable restructuring of the weak competitive fields and of the strengthening competitiveness.
And what's worse is, the Korean people are anxious if analysis and reasonable countermeasures for USA's strategy are prepared. Therefore, this study shows the countermeasures for progressing the successful Korea-USA FTA.
1. It is late, but the Korean government should strengthen public relations and persuade professionals, civil groups and the general public in order to promote an understanding of the national key opinion of the leaders and the general public for the Korea-USA FTA. Here, the active efforts of the beneficial exporting enterprises are requested.
2. As the Korea-USA FTA is promoted from the viewpoint of a long-term national vision, what is required is a systematic support to restructuring and competitiveness strengthening as well as a substantial compensation and preparing aid policy for weak industries and damaged classes.
3. USA tries to seal a deal within the FTA time limit, but Korea should not follow them but have full time to negotiate their own strategy. If the talks is delayed, Korea shall take this chance to bring restructuring of weak industries and securing competitiveness in the meantime. Also, Korea shall solve the national issues reasonably and shall also devote themselves to successful negotiation against USA on the basis of national consensus.
4. As the situation in every field is different, involving more professional populations on behalf of every field into the FTA, negotiators shall level up the talks and will also help in supporting of competitiveness promotion.
5. Amid the issues derived so far by the 4th round of talks, the priority of the talks shall be decided by economical logic and long-term viewpoint. In other words, the priority of the talks shall not be placed on political logic and short-term performance.