Korea’s FTA
Source: Customs, Korea
Korea’s Trade with FTA Partners (2013) In the post Crisis Period: Globalization & Challenges - Korea actively participated bilateral free trade agreement as well as mega-regional trade agreement such as RCEP or TPP
- Shifting Korea’s Trade Policy paradigm
- Why?
- To reduce costs associated with the Spaghetti Bowl Effect
- Asia is the most active in Global Supply Chain Management
- Need to help firms to improve efficiency in production
- To counteract the possible trade diversion effect of mega-trading blocs such as EU,NAFTA, MERCOSUR etc.
- To Tone down regional security threats
- Can Korea-Kazakhstan be Partners in the era of FTAs and Mega FTAs?
Changes in Korea’s Trade Paradigm and Strategies - How Did Korea Achieve it?
- 7.5% p.a. Economic Growth Rate (1953-2014)
- With a fairer income distribution
- Gini Coefficient: 0.344 (1965) => 0.307 (2012)
- Significant Structural Changes
- From Primary to Industry
- From Light Manufacturing to Capital Intensive and Technology Intensive
- Why?
- Leaders Committed to Economic Growth and Development
- Accountability and transparency in International Economic and Trade Policy
- Competitive Macroeconomic Policy
- Promoting Competition
Economic Development of Korea: Growth Path and Challenges - Rapid economic growth
- Accompanied a Fair Income Distribution: Gini Coefficient
- Significant structural changes
- In Outputs
- Agriculture-Industry-Service
- In exports
- Primary – Manufacturing
- L-intensive-K-intensive-Knowledge-intensive
1965
|
1970
|
1976
|
1982
|
1990~1997
|
1998
|
1999
|
2000
|
2001
|
2006
|
2012
|
0.344
|
0.332
|
0.391
|
0.357
|
0.281~0.295
|
0.316
|
0.32
|
0.317
|
0.319
|
0.306
|
0.307
|
Export Share (%)
|
1962
|
1972
|
1977
|
1982
|
1987
|
1991
|
2001
|
2011
|
2014
|
Primary
|
27.5
|
10.3
|
13.8
|
7.9
|
6.0
|
3.5
|
2.7
|
2.8
|
2.2
|
Light Manufacturing
|
63.4
|
56.3
|
52.2
|
43.5
|
42.3
|
36.5
|
16.4
|
6.2
|
6.4
|
Heavy and Chemical Manufacturing
|
9.1
|
33.4
|
34.0
|
48.6
|
51.7
|
60
|
80.9
|
91
|
91.4
|
IT
|
|
|
|
|
|
15.4
|
27
|
22.4
|
23.9
|
Others
|
|
|
|
|
|
44.6
|
53.9
|
68.6
|
67.5
| GDP by Economic Activities(%) |
1953
|
1962
|
1971
|
1981
|
1991
|
2001
|
2011
|
2014
|
Primary(Agriculture, Forestry & Fishery)
|
30.1%
|
25.9%
|
16.6%
|
9.8%
|
4.9%
|
3.3%
|
2.3%
|
2.3%
|
Mining
|
2.0%
|
3.5%
|
2.7%
|
1.8%
|
0.7%
|
0.3%
|
0.2%
|
0.2%
|
Manufacturing
|
2.8%
|
4.9%
|
9.3%
|
16.9%
|
20.9%
|
25.1%
|
31.6%
|
32.0%
|
Electricy, Gas and Water
|
0.1%
|
0.2%
|
0.5%
|
0.9%
|
1.6%
|
2.1%
|
2.2%
|
2.1%
|
Construction
|
3.9%
|
5.5%
|
10.0%
|
10.6%
|
12.1%
|
6.8%
|
4.7%
|
4.4%
|
Services
|
61.1%
|
60.0%
|
60.9%
|
59.9%
|
59.8%
|
62.4%
|
59.0%
|
59.1%
|
Source: nso.kr
Gov’t
Business
People
Gov’t
Business
People
Gov’t
Business
People
<1960s-Mid1980s>
Gov’t Entrepreneurial Leadership
Gov’t Leadership
& Business Power
Gov’t Leadership
& Business Power & People Power
Korea-kazakhstan: a quick review
Kazakhstan and Korea: Now
| | |
|
Kazakhstan
|
Korea
|
Area (km2) (ranking)
|
2,724,900 (9th)
|
99720 (109th)
|
Agricultural Land (%)
|
77.4
|
18.1
|
Population (million; 2015) (ranking)
|
18.2(61th)
|
49.1 (28th)
|
65 and overs (%)
|
7.17
|
13.00
|
Life Expectancy (years)
|
70.6
|
80
|
Population Growth Rate (%; 2014)
|
1.14
|
0.14
|
Birth Rate (per 1000 popltn) (ranking)
|
19.15 (19th)
|
8.19 (220th)
|
Fertility Rate(child born per woman) (ranking)
|
2.31 (92th)
|
1.25 (220th)
|
GDP (US$)
|
212.3 billion
|
1.41 trillion
|
Exports (US$)
|
87.3 billion
|
572.7 billion
|
Major Export Products
|
oil and oil products, natural gas, ferrous metals, chemicals, machinery
|
semiconductors, petrochemicals, automobile/parts, ships, wireless communication equipment, flat display, steels,
|
Imports (US$ Billion)
|
46.7 billion
|
525.5 billion
|
Major Import Products
|
machinery and equipment, metal products, foodstuff
|
crude oil, petroleum products, semiconductors, coal, steel
|
Major Natural Resources Reserves
(ranking)
|
Crude Oil: 30 billion barrel (12th)
|
Crude oil: 0 barrel
|
|
Natural Gas: 2.407 trillion m3 (15th)
|
5.748 billion m3 (89th)
|
Mobile Phone (2014)
|
28 million
|
57.2 million
|
Internet Users (2014) (ranking)
|
10.6 million (45th)
|
44.9 million (13th)
|
% of Population
|
59.3
|
91.5
|
Military Expenditure (% of GDP)
(2012)
|
1.21
|
2.8
|
Source: ciafactbook
(USB$)
Source: Korea Customs
Source: Korea Customs
Source: Koreaexim Bank
Source: Koreaexim Bank
Korea –Kazakhstan Trade (1992-2014)
Year
|
Export (USM$)
|
Import (USM$)
|
Total Trade (USM$)
|
1993
|
41
|
47
|
88
|
1998
|
104
|
31
|
135
|
1999
|
57
|
51
|
108
|
2000
|
82
|
49
|
131
|
2005
|
273
|
242
|
515
|
2010
|
604
|
334
|
938
|
2013
|
1,074
|
249
|
1,323
|
2014
|
907
|
561
|
1,468
|
Source: kita.net
- Korea-Kazakhstan Diplomatic Relationship
- January 28, 1992
- Korea-Kazakhstan Trade has expanded rapidly
- US$88 million (1993) to US$1468 million(2014)
- Exports
- US$41million(1993) to US$907 million (2014)
- Imports
- US$ 47 million (1993) to US$ 561 million (2014)
- But still remained below its potential
Korea –Kazakhstan Trade (1992-2014)
Source: kita.net
Korea’s Top 10 Imports from Kazakhstan (2014)
Source: kita.net
|
Products (SITC 2 digit)
| |
Imports
|
Growth Rate (%)
|
|
|
Total
|
560,771
|
209.9
|
1
|
33
|
Petroleum and Petroleum Products
|
372,193
|
-
|
2
|
67
|
Steel and Iron
|
95,808
|
0.1
|
3
|
52
|
Inorganic Chemicals
|
72,228
|
2.9
|
4
|
68
|
Non-ferrous Metal
|
13,022
|
5.0
|
5
|
29
|
Non specified Unprocessed meat and vegetables
|
6,948
|
-0.1
|
6
|
89
|
Miscellaneous n.e.s
|
155
|
75.2
|
7
|
59
|
Chemical Products, n.e.s.
|
137
|
-54.7
|
8
|
77
|
Electrical Apparatus and Machinery
|
80
|
-30.2
|
9
|
26
|
Textile and Textile Waste
|
49
|
-
|
10
|
74
|
Industrial Machinery and Equipment
|
46
|
-
|
Source: kita.net
Korea’s Top 10 exports to Kazakhstan (2014)
|
Products(SITC2 digit)
| |
Exports (US’000)
|
Growth Rate (%)
|
|
|
Total
|
906,958
|
268.6
|
1
|
78
|
Automobile
|
388,723
|
267.4
|
2
|
57
|
Plastics(Materials)
|
62,270
|
34.1
|
3
|
76
|
Communication and Recording Equipment
|
61,692
|
52.3
|
4
|
77
|
Electrical Machinery and Equipment
|
53,077
|
131.2
|
5
|
87
|
Other Scientific and Control Apparatus and Equipment
|
46,981
|
32.6
|
6
|
72
|
Special Industrial Machinery
|
46,832
|
28.3
|
7
|
67
|
Steel and Iron
|
36,308
|
108.7
|
8
|
74
|
Industrial Machinery and Equipment
|
35,129
|
68.8
|
9
|
82
|
Furniture, Bedding, Mattress etc.
|
18,418
|
-4.2
|
10
|
09
|
Other Food and Food stuffs
|
16,906
|
6.2
|
Source: kita.net
Korea’s FDI in Kazakhstan (1990-2014)
Source: kita.net
- In total , US$ 2.45 billion
- Finance & Insurance (29.1%)
- Construction (17.1%)
- Manufacturing (15.6%)
- Realty and Lease (11.0%)
Korea-Kazakhstan Relationship - Economic partnership between Korea and Kazakhstan
- In trade and FDI: getting stronger but remained less than its potential
- Why?
- Lack of mutual understanding
- Other reasons?
- How?
Thank you very much
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