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Lee, Jaemin --- "Increasing Interaction Between Investment and Trade in Korea" [2011] ELECD 193; in Chang, Wha Seung; Choi, Won-Mog (eds), "Trade Law and Regulation in Korea" (Edward Elgar Publishing, 2011)

Book Title: Trade Law and Regulation in Korea

Editor(s): Chang, Wha Seung; Choi, Won-Mog

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781847209221

Section: Chapter 7

Section Title: Increasing Interaction Between Investment and Trade in Korea

Author(s): Lee, Jaemin

Number of pages: 29

Extract:

7. Increasing interaction between
investment and trade in Korea
Jaemin Lee

1. INTERACTION BETWEEN TRADE POLICY
AND INVESTMENT POLICY IN KOREA: TWO
DISTINCT STAGES AND CURRENT SITUATION

A government's foreign investment policy and trade policy have close con-
nection and affect each other.1 In fact, the close relationship between the
two is not a new finding, but has long been confirmed since the inception
of the General Agreement on Tariffs and Trade ("GATT") in 1947.2 In
fact, foreign investment issues have taken an increasingly important role
in the world trade regime.3 Korea, however, has traditionally adopted
a dichotomy approach in which trade policies and investment policies
are treated as if they covered their respective sectors only: trade policies
and investment policies have been reviewed and formulated on their own
merits without necessarily taking into account the overlapping elements
between the two. As such, Korea's trade policy has focused on how to


1 Investment by domestic companies in the domestic market could also carry

implication for the international trade. Likewise, international trade policies could
also carry similar implication for domestic investment by domestic companies.
For this chapter, however, the term "investment" is used only to mean and cover
"foreign investment": in other words, foreign investment in the Korean market or
Korean investment in the foreign market.
2 See http://www.wto.org/english/thewto_e/whatis_e/tif_e/bey3_e.htm. (It is

said that originally the trade rules and investment rules were supposed to stand
hand-in-hand); ...


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