Multilevel liberalization in Korea, or why the Korean market remains diffi cult to penetrate

IF 0.3 Q4 ECONOMICS

Zhurnal Novaya Ekonomicheskaya Assotsiatsiya-Journal of the New Economic Association Pub Date : 2023-01-01 DOI:10.31737/22212264_2023_1_157

I. Korgun

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引用次数: 1

Abstract

For Russia’s ‘turn to the East’ to be successful it is necessary to promote export of Russian products to East Asian markets. This is rather a complex task, because despite a progressive liberalization of the last three decades East Asian markets remain relatively protected. The current paper deals with a case of the Republic of Korea. It reveals a multi-level approach to market liberalization in the Korean trade policy that step up from elements of preserved nationalism. The multi-level approach allows Korea to protect weak national companies and at the same time create opportunities for international expansion for stronger sectors of its economy. As a result, domestic companies get extra-support that distorts competition. Non-tariff barriers and monopolistic product markets are yet other factors that complicate successful positioning of foreign businesses in Korea. Using an example of a free trade agreement with the European Union research shows that such agreements are more effective for unlocking the Korean market. Besides, Korean government prefers FTAs over multilateral liberalization within WTO because they make it possible to take into account strategic economic interests of each trading partner. The paper concludes with some general recommendations on penetrating into the Korean market that can be useful for Russian companies that are making strategies to enter Korea.

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韩国的多层次自由化，还是韩国市场难以渗透的原因

要使俄罗斯“转向东方”取得成功，有必要促进俄罗斯产品向东亚市场的出口。这是一项相当复杂的任务，因为尽管过去三十年来东亚市场逐步自由化，但仍然相对受到保护。本文讨论的是大韩民国的一个案例。它揭示了韩国贸易政策中市场自由化的多层次方法，这些方法是从保留的民族主义元素中逐步发展起来的。这种多层次的方法可以保护弱势的国有企业，同时为实力较强的经济部门创造国际扩张的机会。结果，国内企业得到了额外的支持，扭曲了竞争。非关税壁垒和垄断产品市场是外国企业在韩国成功定位的另一个因素。以与欧盟(eu)的自由贸易协定(fta)为例进行的研究表明，fta对韩国市场的开放效果更好。另外，韩国政府认为，比起WTO内的多边自由化，更倾向于fta，因为fta可以兼顾各国的战略经济利益。本文最后提出了一些关于打入韩国市场的一般性建议，可供制定进军韩国战略的俄罗斯企业参考。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Zhurnal Novaya Ekonomicheskaya Assotsiatsiya-Journal of the New Economic Association ECONOMICS-

CiteScore

1.00

自引率

20.00%

发文量

期刊介绍： Key Journal''s objectives: bring together economists of different schools of thought across the Russian Federation; strengthen ties between Academy institutes, educational establishments and economic research centers; improve the quality of Russian economic research and education; integrate economic science and education; speed up the integration of Russian economic science in the global mainstream of economic research. The Journal publishes both theoretical and empirical articles, devoted to all aspects of economic science, which are of interest for wide range of specialists. It welcomes high-quality interdisciplinary projects and economic studies employing methodologies from other sciences such as physics, psychology, political science, etc. Special attention is paid to analyses of processes occurring in the Russian economy. Decisions about publishing of articles are based on a double-blind review process. Exceptions are short notes in the section "Hot Topic", which is usually formed by special invitations and after considerations of the Editorial Board. The only criterion to publish is the quality of the work (original approach, significance and substance of findings, clear presentation style). No decision to publish or reject an article will be influenced by the author belonging to whatever public movement or putting forward ideas advocated by whatever political movement. The Journal comes out four times a year, each issue consisting of 12 to 15 press sheets. Now it is published only in Russian. The English translations of the Journal issues are posted on the Journal website as open access resources.