A Study on Cooperation Promotion through IPEF and Korea’s Trade Expansion Relationship

Abstract

Purpose - The goal on this study is related to seeking the direction of development of the Korean economy through the promotion of cooperation through IPEF and a study of Korea's trade expansion relations. Design/Methodology/Approach - Joint efforts to cope with global climate change and consequent changes in the trade order within the IPEF, and the strengths of Korean IT companies in the digital field can be demonstrated. It is also utilized as a global production base, and strengthening cooperation is positive for Korean trade. For example, it will be a basis for trends and estimates of Korean investments in new corporations in Vietnam. Data from 2016 to 2022 are from to The State Bank of Vietnam, and estimates for 2023 through this data correspond to estimatea according to (1, 1, 0) of the ARIMA model. Findings - As a result, it is predicted that the investment expansion of new corporation investment in Vietnam by Korean companies, which exceeded 31.8% in 2022, can be further expanded in 2023. Research Implications - The promotion of cooperation between Korean exporting companies and regional countries through IPEF is essential for securing core raw materials for semiconductors and electric vehicles in Southeast Asia, USMCA, and South America. In addition, Korean trade will be able to continue to find strengthening ties with technologically advanced countries on carbon reduction in response to the EU's ESG management.