[Reviewed King's visit to Korea]
①'Korea-China-Japan FTA negotiation' economic gift, what are the points of watching?
https://www.ajunews.com/view/20201129171857436
Reporter Jeong Hye-in input: 2020-11-30 08:00
Korea-China FTA 6th year 6th year What has changed?
1. Overview and usage
Watched 419 times
• 2020/04/14 China Management Research Institute
1. Overview and usage
Watched 419 times
• 2020/04/14 China Management Research Institute
Subtitles-Settings-Subtitles (1) -Automatic translation-Language
China, in diplomatic isolation amid the Corona 19 crisis, focus on achieving achievements of the Korea-China-Japan FTA-Korea-China FTA's'Services and Investments' The follow-up negotiations of the Korea-China FTA are likely to accelerate The role of the facilitator The Wen Government to develop a strategy in China
![문재인 대통령과 시진핑(習近平) 중국 국가주석이 2019년 12월 23일 중국 베이징(北京) 인민대회당에서 정상회담 전 악수하고 있다.[사진=연합뉴스]](https://image.ajunews.com/content/image/2020/11/29/20201129170719847364.jpg)
President Moon Jae-in and Chinese President Xi Jinping shake hands before the summit meeting at the People's Congress in Beijing, China on December 23, 2019. [Photo = Yonhap News]
Wang Yi, a member of the Chinese Foreign Affairs Bureau and Minister of Foreign Affairs, left Korea and Japan with the task of ‘Korea-China-Japan Free Trade Agreement (FTA) negotiations’ through a four-day overseas tour from the 24th to the 27th.
The Korea-China-Japan FTA began joint research in 2003, and negotiations between the three countries began in November 2012. However, as the difference in admission between the three countries of Korea, China, and Japan was hardly narrowed, it was not possible to proceed to the conclusion. Sensitive diplomatic and security issues surrounding the three countries were the cause. The Korea-China-Japan FTA negotiations have been suspended for a year after the 16th negotiations held in Seoul on November 27-29 last year.
There are still many challenges to be solved between the three countries. However, it is predicted that the unprecedented infectious disease of the novel coronavirus infection (Corona 19) and strategic competition between the US and China will serve as a catalyst for the Korea-China-Japan FTA negotiations. In addition, there are also observations that this will accelerate the Korea-China FTA, which has been suspended for two years.
Some are predicting that, ahead of the 30th anniversary of diplomatic relations between Korea and China in 2022, progress in the Korea-China FTA negotiations will take place in the middle of next year, and the promotion of the Korea-China-Japan FTA negotiations will also begin in earnest.
On the 29th, a diplomat analyzed that the purpose of Wang's overseas trip, which took place before the inauguration of the US administration, was'Korea-China-Japan economic cooperation'. There is a growing expectation that it will be done.
This is because if the trade barriers between Korea, China, and Japan, the major Asian economies, are lowered, it will have a positive impact on the economic growth of the three countries and the domestic market. Last year, the real gross domestic product (GDP) of the three countries amounted to about 16,5709 billion dollars (about 8322 trillion won).
Although the Regional Comprehensive Economic Partnership Agreement (RCEP), which accounts for about 30% of the world's GDP, has been signed, the economic levels of the 15 ASEAN countries included in the agreement are expected to have a high level of economic effects. Hard.
For this reason, the FTA negotiations between Korea, China, and Japan, which are classified as Asia's major economies, must be promoted promptly, and for this, observations are dominant that speeding up the follow-up negotiations in the second phase of the Korea-China FTA.
This is because service and investment are the main points of the second phase of the Korea-China FTA negotiations that have continued in the aftermath of the conflict with the deployment of THAAD (high-altitude missile defense system) in 2017. Earlier, the three countries of Korea, China, and Japan have stated that they will proceed in all areas of goods, services and investment at the same time when negotiating an FTA.
Wang Yi, a member of the Chinese Foreign Affairs Bureau and Minister of Foreign Affairs, left Korea and Japan with the task of ‘Korea-China-Japan Free Trade Agreement (FTA) negotiations’ through a four-day overseas tour from the 24th to the 27th.
The Korea-China-Japan FTA began joint research in 2003, and negotiations between the three countries began in November 2012. However, as the difference in admission between the three countries of Korea, China, and Japan was hardly narrowed, it was not possible to proceed to the conclusion. Sensitive diplomatic and security issues surrounding the three countries were the cause. The Korea-China-Japan FTA negotiations have been suspended for a year after the 16th negotiations held in Seoul on November 27-29 last year.
There are still many challenges to be solved between the three countries. However, it is predicted that the unprecedented infectious disease of the novel coronavirus infection (Corona 19) and strategic competition between the US and China will serve as a catalyst for the Korea-China-Japan FTA negotiations. In addition, there are also observations that this will accelerate the Korea-China FTA, which has been suspended for two years.
Some are predicting that, ahead of the 30th anniversary of diplomatic relations between Korea and China in 2022, progress in the Korea-China FTA negotiations will take place in the middle of next year, and the promotion of the Korea-China-Japan FTA negotiations will also begin in earnest.
On the 29th, a diplomat analyzed that the purpose of Wang's overseas trip, which took place before the inauguration of the US administration, was'Korea-China-Japan economic cooperation'. There is a growing expectation that it will be done.
This is because if the trade barriers between Korea, China, and Japan, the major Asian economies, are lowered, it will have a positive impact on the economic growth of the three countries and the domestic market. Last year, the real gross domestic product (GDP) of the three countries amounted to about 16,5709 billion dollars (about 8322 trillion won).
Although the Regional Comprehensive Economic Partnership Agreement (RCEP), which accounts for about 30% of the world's GDP, has been signed, the economic levels of the 15 ASEAN countries included in the agreement are expected to have a high level of economic effects. Hard.
For this reason, the FTA negotiations between Korea, China, and Japan, which are classified as Asia's major economies, must be promoted promptly, and for this, observations are dominant that speeding up the follow-up negotiations in the second phase of the Korea-China FTA.
This is because service and investment are the main points of the second phase of the Korea-China FTA negotiations that have continued in the aftermath of the conflict with the deployment of THAAD (high-altitude missile defense system) in 2017. Earlier, the three countries of Korea, China, and Japan have stated that they will proceed in all areas of goods, services and investment at the same time when negotiating an FTA.
![문재인 대통령이 26일 오후 청와대에서 왕이(王毅) 중국 외교담당 국무위원 겸 외교부장과 기념촬영 하고 있다. [사진=연합뉴스]](https://image.ajunews.com/content/image/2020/11/29/20201129174228517577.jpg)
President Moon Jae-in is taking a commemorative photo with Wang Yi, a member of the Chinese Foreign Affairs Bureau and Minister of Foreign Affairs at the Blue House on the afternoon of the 26th. [Photo = Yonhap News]
It is analyzed that the opening of the service and investment markets between the two countries through the conclusion of the second phase of the Korea-China FTA negotiations will lay the foundation for the Korea-China-Japan FTA negotiations in which discussions in the field of “products, services, and investment” are conducted.
Seo Chang-bae, a professor at the Department of International Area Studies at Pukyong National University, said in a recent call, "It is true that we found the momentum of the Korea-China-Japan FTA through the signing of the RCEP, but the economic levels of the RCEP countries are different". Insisted that what happens is the order.
Professor Seo suggested that the focus will be on the financial markets related to the Korea-China FTA negotiations. He said, "China has not fully opened the financial market yet," he said. "In the financial side, we have strengths, so it would be good to take advantage of these points."
He also paid attention to the cultural service industry. However, regarding the designation of the'Korean-Chinese Cultural Exchange Year 2021-2022,' which was held in the wake of this diplomatic ministers' meeting, it is said that the relationship between Korea and China, which had been severed by THAAD ahead of the 30th anniversary of diplomatic relations (2022), is being restored. It was meant to emphasize the point,” he said, and did not think that it would have a significant impact on the second phase of the FTA negotiations between Korea and China.
Prof. Seo predicted that Chinese President Xi Jinping could emerge as a “saving pitcher” to promote negotiations in the second phase of the Korea-China FTA.
It is believed that the Biden administration's checks against China will be more subtle than that of US President Donald Trump, and it means that Xi will actively seek to improve relations between Korea and China before the biden administration or at the beginning of the regime.
Professor Seo said, “The urgency of China was revealed when the king visited Korea this time.” “President Xi will somehow reveal the solidity of Korea-China relations before the 30th anniversary of diplomatic relations in 2022. It will speed up.”
“Korea should take advantage of this opportunity to take the lead in Korea-China, Korea-China-Japan economic cooperation system, and expand its influence in the Asian economic block.” He stressed, "We need to establish a strategy for China according to the results of the China Central Economic Work and the National People's Congress."
However, some point out that the aftermath of the Corona 19 pandemic (a global pandemic) continues, and that the interests of the three countries, such as issues of past history, are an obstacle to the trilateral FTA negotiations. Korea and Japan have been confronted for a long time over the issue of compulsory conscription, and the issue of THAAD between Korea and China in the US-China strategic competition has not been completely resolved, so it is difficult to smoothly promote Korea-China, as well as Korea-China-Japan FTA negotiations. will be.
However, the three leaders of Korea, China, and Japan, including President Moon Jae-in at the end of his term of office, President Xi who fell into diplomatic isolation due to US-China competition, and Japanese Prime Minister Yoshihide Suga, all showed their presence. If necessary, all of them can focus on deriving economic results through the Korea-China-Japan FTA negotiations.
Hyein Jeong ajuchi@ajunews.com
It is analyzed that the opening of the service and investment markets between the two countries through the conclusion of the second phase of the Korea-China FTA negotiations will lay the foundation for the Korea-China-Japan FTA negotiations in which discussions in the field of “products, services, and investment” are conducted.
Seo Chang-bae, a professor at the Department of International Area Studies at Pukyong National University, said in a recent call, "It is true that we found the momentum of the Korea-China-Japan FTA through the signing of the RCEP, but the economic levels of the RCEP countries are different". Insisted that what happens is the order.
Professor Seo suggested that the focus will be on the financial markets related to the Korea-China FTA negotiations. He said, "China has not fully opened the financial market yet," he said. "In the financial side, we have strengths, so it would be good to take advantage of these points."
He also paid attention to the cultural service industry. However, regarding the designation of the'Korean-Chinese Cultural Exchange Year 2021-2022,' which was held in the wake of this diplomatic ministers' meeting, it is said that the relationship between Korea and China, which had been severed by THAAD ahead of the 30th anniversary of diplomatic relations (2022), is being restored. It was meant to emphasize the point,” he said, and did not think that it would have a significant impact on the second phase of the FTA negotiations between Korea and China.
Prof. Seo predicted that Chinese President Xi Jinping could emerge as a “saving pitcher” to promote negotiations in the second phase of the Korea-China FTA.
It is believed that the Biden administration's checks against China will be more subtle than that of US President Donald Trump, and it means that Xi will actively seek to improve relations between Korea and China before the biden administration or at the beginning of the regime.
Professor Seo said, “The urgency of China was revealed when the king visited Korea this time.” “President Xi will somehow reveal the solidity of Korea-China relations before the 30th anniversary of diplomatic relations in 2022. It will speed up.”
“Korea should take advantage of this opportunity to take the lead in Korea-China, Korea-China-Japan economic cooperation system, and expand its influence in the Asian economic block.” He stressed, "We need to establish a strategy for China according to the results of the China Central Economic Work and the National People's Congress."
However, some point out that the aftermath of the Corona 19 pandemic (a global pandemic) continues, and that the interests of the three countries, such as issues of past history, are an obstacle to the trilateral FTA negotiations. Korea and Japan have been confronted for a long time over the issue of compulsory conscription, and the issue of THAAD between Korea and China in the US-China strategic competition has not been completely resolved, so it is difficult to smoothly promote Korea-China, as well as Korea-China-Japan FTA negotiations. will be.
However, the three leaders of Korea, China, and Japan, including President Moon Jae-in at the end of his term of office, President Xi who fell into diplomatic isolation due to US-China competition, and Japanese Prime Minister Yoshihide Suga, all showed their presence. If necessary, all of them can focus on deriving economic results through the Korea-China-Japan FTA negotiations.
