{"id":1044,"date":"2023-02-13T16:19:14","date_gmt":"2023-02-13T16:19:14","guid":{"rendered":"https:\/\/www.fiw.ac.at\/publications\/eu-south-korea-fta-economic-impact-for-the-eu-and-austria\/"},"modified":"2023-05-17T16:51:42","modified_gmt":"2023-05-17T14:51:42","slug":"eu-south-korea-fta-economic-impact-for-the-eu-and-austria","status":"publish","type":"publication","link":"https:\/\/www.fiw.ac.at\/en\/publications\/eu-south-korea-fta-economic-impact-for-the-eu-and-austria\/","title":{"rendered":"FIW-PB 10 EU-South Korea FTA – Economic Impact for the EU and Austria"},"content":{"rendered":"\n

Abstract:
The Free Trade Agreement between the EU and the Republic of Korea (EU-South Korea FTA) is the first of the new generation of FTAs launched in 2007 as part of the “Global Europe” initiative. These agree\u0002ments, based on solid economic criteria, will represent a stepping stone for future liberalisation as they are also tackling issues, which are not ready for multilateral discussion and are going beyond the market opening that can be achieved in the WTO context. Accordingly, the EU-South Korea FTA is the
most comprehensive free trade agreement ever negotiated by the EU. We evaluate the economic impact for the EU and Austria of this FTA with the GTAP world computable general equilibrium model. The results are as expected. Both parties win from eliminating tariffs and other trade barriers. However, as the actual trade relations with South Korea are only in the magnitude
of 2 to 2 \u00bd% of total Extra-EU trade, the trade (total EU +0.2%, Austria +0.10%; Extra-EU: EU and Austria +1.2%) and welfare gains (only 0.04% of GDP) are modest for the EU and Austria. For South Korea the trade (+5.3%) and welfare gains (1.3% of GDP) are much higher as the EU is second largest trade part\u0002ner with a share of around 12%.<\/span><\/p>\n\n\n\n

<\/p>\n\n\n\n

Fritz Breuss (WU Wien \/ WIFO) & Joseph F. Francois (JKU Linz)
EU-South Korea FTA – Economic Impact for the EU and Austria
FIW-Policy Brief 10
February 2011
Language: English<\/span><\/p>\n\n\n\n

\n\n\n\n

Zusammenfassung:
Das Freihandelsabkommen zwischen der EU und S\u00fcdkorea (EU-S\u00fcdkorea FHA) ist das erste einer neuen Generation von FHA, die 2007 gestartet wurden und Teil der Initiative \u201eGlobales Europa\u201c sind. Solche Abkommen, die auf fundierten wirtschaftlichen Kriterien basieren, bilden einen wichtigen Schritt f\u00fcr weitere Handelsliberalisierungen, da sie auch Themen behandeln, die noch nicht reif f\u00fcr multilaterale Diskussionen sind und weit \u00fcber eine blo\u00dfe Markt\u00f6ffnung hinausgehen, wie sie im Rahmen der WTO erreicht werden k\u00f6nnen. In diesem Sinne ist das EU-S\u00fcdkorea FHA das umfassendste Freihandelsabkommen, das die EU jemals verhandelt hat. Wir evaluieren die wirtschaftlichen Auswirkungen dieses Freihandelsabkommen f\u00fcr die EU und f\u00fcr \u00d6sterreich mit dem rechenbaren allgemeinen Weltgleichgewichtsmodell GTAP. Die Ergebnisse sind wie erwartet. Beide Parteien gewinnen von der Beseitigung der Z\u00f6lle und anderer Handelsbarrieren. Da die Anteile der Exporte und Importe mit S\u00fcdkorea sowohl von seitens der EU als auch \u00d6sterreichs nur 2% bis 2 \u00bd% des gesamten Extra-EU-Handels ausmachen, fallen die Handels- und Wohlfahrtsgewinne f\u00fcr die EU und \u00d6sterreich bescheiden aus. Der gesamte Handel der EU steigt um 0,2%, jener \u00d6sterreichs nur um 0,1%. Der Extra-EU-Handel steigt sowohl in der EU als auch in \u00d6sterreich um jeweils 1,2%. Die Wohlfahrt steigt in der EU und in \u00d6sterreich nur um 0,04% des BIP. In S\u00fcdkorea sind die Effekte h\u00f6her, da die EU der zweitgr\u00f6\u00dfte Handelspartner mit einem Anteil von 12% ist. Der Handel nimmt in S\u00fcdkorea um 5,3% zu und die Wohlfahrt kann um 1,3% des BIP gesteigert werden.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Fritz Breuss (WU Wien \/ WIFO) & Joseph F. Francois (JKU Linz)
EU-S\u00fcdkorea FTA – Wirtschaftliche Auswirkungen f\u00fcr die EU und \u00d6sterreich
FIW-Policy Brief 10
Februar 2011
Sprache: Englisch<\/p>\n","protected":false},"featured_media":0,"menu_order":0,"template":"","jelcode":[],"keyword":[142,140,141],"class_list":["post-1044","publication","type-publication","status-publish","hentry","keyword-eu","keyword-freihandelsabkommen","keyword-suedkorea"],"acf":{"year":2011,"month":2,"day":"","volume":"","number":"010","pages":9,"reviewed":"","citeid":"FIW_PB_010","fiwseries":"FIW Policy Briefs","event":""},"yoast_head":"\nFIW-PB 10 EU-South Korea FTA - Economic Impact for the EU and Austria - FIW<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fiw.ac.at\/en\/publications\/eu-south-korea-fta-economic-impact-for-the-eu-and-austria\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FIW-PB 10 EU-South Korea FTA - Economic Impact for the EU and Austria - FIW\" \/>\n<meta property=\"og:description\" content=\"Abstract:The Free Trade Agreement between the EU and the Republic of Korea (EU-South Korea FTA) is the first of the new generation of FTAs launched in 2007 as part of the “Global Europe” initiative. These agree\u0002ments, based on solid economic criteria, will represent a stepping stone for future liberalisation as they are also tackling issues, […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.fiw.ac.at\/en\/publications\/eu-south-korea-fta-economic-impact-for-the-eu-and-austria\/\" \/>\n<meta property=\"og:site_name\" content=\"FIW\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-17T14:51:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.fiw.ac.at\/wp-content\/uploads\/2023\/03\/wifo_fiw_logo_short_rgb.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"843\" \/>\n\t<meta property=\"og:image:height\" content=\"293\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@CentreFiw\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.fiw.ac.at\/en\/publications\/eu-south-korea-fta-economic-impact-for-the-eu-and-austria\/\",\"url\":\"https:\/\/www.fiw.ac.at\/en\/publications\/eu-south-korea-fta-economic-impact-for-the-eu-and-austria\/\",\"name\":\"FIW-PB 10 EU-South Korea FTA - Economic Impact for the EU and Austria - FIW\",\"isPartOf\":{\"@id\":\"https:\/\/www.fiw.ac.at\/en\/#website\"},\"datePublished\":\"2023-02-13T16:19:14+00:00\",\"dateModified\":\"2023-05-17T14:51:42+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.fiw.ac.at\/en\/publications\/eu-south-korea-fta-economic-impact-for-the-eu-and-austria\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.fiw.ac.at\/en\/publications\/eu-south-korea-fta-economic-impact-for-the-eu-and-austria\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.fiw.ac.at\/en\/publications\/eu-south-korea-fta-economic-impact-for-the-eu-and-austria\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Startseite\",\"item\":\"https:\/\/www.fiw.ac.at\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Publications\",\"item\":\"https:\/\/www.fiw.ac.at\/en\/publications\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"FIW-PB 10 EU-South Korea FTA – Economic Impact for the EU and Austria\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.fiw.ac.at\/en\/#website\",\"url\":\"https:\/\/www.fiw.ac.at\/en\/\",\"name\":\"FIW\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.fiw.ac.at\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.fiw.ac.at\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.fiw.ac.at\/en\/#organization\",\"name\":\"FIW\",\"url\":\"https:\/\/www.fiw.ac.at\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.fiw.ac.at\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.fiw.ac.at\/wp-content\/uploads\/2023\/03\/wifo_fiw_logo_kugel_rgb.png\",\"contentUrl\":\"https:\/\/www.fiw.ac.at\/wp-content\/uploads\/2023\/03\/wifo_fiw_logo_kugel_rgb.png\",\"width\":843,\"height\":843,\"caption\":\"FIW\"},\"image\":{\"@id\":\"https:\/\/www.fiw.ac.at\/en\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/x.com\/CentreFiw\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FIW-PB 10 EU-South Korea FTA - Economic Impact for the EU and Austria - FIW","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.fiw.ac.at\/en\/publications\/eu-south-korea-fta-economic-impact-for-the-eu-and-austria\/","og_locale":"en_US","og_type":"article","og_title":"FIW-PB 10 EU-South Korea FTA - Economic Impact for the EU and Austria - FIW","og_description":"Abstract:The Free Trade Agreement between the EU and the Republic of Korea (EU-South Korea FTA) is the first of the new generation of FTAs launched in 2007 as part of the “Global Europe” initiative. These agree\u0002ments, based on solid economic criteria, will represent a stepping stone for future liberalisation as they are also tackling issues, […]","og_url":"https:\/\/www.fiw.ac.at\/en\/publications\/eu-south-korea-fta-economic-impact-for-the-eu-and-austria\/","og_site_name":"FIW","article_modified_time":"2023-05-17T14:51:42+00:00","og_image":[{"width":843,"height":293,"url":"https:\/\/www.fiw.ac.at\/wp-content\/uploads\/2023\/03\/wifo_fiw_logo_short_rgb.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_site":"@CentreFiw","twitter_misc":{"Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.fiw.ac.at\/en\/publications\/eu-south-korea-fta-economic-impact-for-the-eu-and-austria\/","url":"https:\/\/www.fiw.ac.at\/en\/publications\/eu-south-korea-fta-economic-impact-for-the-eu-and-austria\/","name":"FIW-PB 10 EU-South Korea FTA - Economic Impact for the EU and Austria - FIW","isPartOf":{"@id":"https:\/\/www.fiw.ac.at\/en\/#website"},"datePublished":"2023-02-13T16:19:14+00:00","dateModified":"2023-05-17T14:51:42+00:00","breadcrumb":{"@id":"https:\/\/www.fiw.ac.at\/en\/publications\/eu-south-korea-fta-economic-impact-for-the-eu-and-austria\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.fiw.ac.at\/en\/publications\/eu-south-korea-fta-economic-impact-for-the-eu-and-austria\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.fiw.ac.at\/en\/publications\/eu-south-korea-fta-economic-impact-for-the-eu-and-austria\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Startseite","item":"https:\/\/www.fiw.ac.at\/en\/"},{"@type":"ListItem","position":2,"name":"Publications","item":"https:\/\/www.fiw.ac.at\/en\/publications\/"},{"@type":"ListItem","position":3,"name":"FIW-PB 10 EU-South Korea FTA – Economic Impact for the EU and Austria"}]},{"@type":"WebSite","@id":"https:\/\/www.fiw.ac.at\/en\/#website","url":"https:\/\/www.fiw.ac.at\/en\/","name":"FIW","description":"","publisher":{"@id":"https:\/\/www.fiw.ac.at\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.fiw.ac.at\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.fiw.ac.at\/en\/#organization","name":"FIW","url":"https:\/\/www.fiw.ac.at\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.fiw.ac.at\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.fiw.ac.at\/wp-content\/uploads\/2023\/03\/wifo_fiw_logo_kugel_rgb.png","contentUrl":"https:\/\/www.fiw.ac.at\/wp-content\/uploads\/2023\/03\/wifo_fiw_logo_kugel_rgb.png","width":843,"height":843,"caption":"FIW"},"image":{"@id":"https:\/\/www.fiw.ac.at\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/x.com\/CentreFiw"]}]}},"_links":{"self":[{"href":"https:\/\/www.fiw.ac.at\/en\/wp-json\/wp\/v2\/publication\/1044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fiw.ac.at\/en\/wp-json\/wp\/v2\/publication"}],"about":[{"href":"https:\/\/www.fiw.ac.at\/en\/wp-json\/wp\/v2\/types\/publication"}],"wp:attachment":[{"href":"https:\/\/www.fiw.ac.at\/en\/wp-json\/wp\/v2\/media?parent=1044"}],"wp:term":[{"taxonomy":"jelcode","embeddable":true,"href":"https:\/\/www.fiw.ac.at\/en\/wp-json\/wp\/v2\/jelcode?post=1044"},{"taxonomy":"keyword","embeddable":true,"href":"https:\/\/www.fiw.ac.at\/en\/wp-json\/wp\/v2\/keyword?post=1044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}