FTA (Free Trade Agreement)

Today, I listened to presentation about KOR-US FTA. I could learn about these problems. FTA is free trade agreement. As we know, due to FTA, South Korean farmers and labor unionists staged a protest against the FTA. They said the Free Trade Agreement will eventually destroy our farming industry. But I agree about KOR-US FTA. There are some reasons. First, the reason is that the exports will be increased due to no tariffs. Our country is export-led country. If the export rise focused on industries such as textile, apparel, leather, footwear, automotive, electronics etc, we will inject new vitality to the economy. Second, the reason is that because of many foreign investment jobs are likely to rise. The last 5 years, the newly created about 520,000 jobs were made by foreign investment. With this in mind, the direct effects will indicate focused on high-value-added industries and areas of expertise such as information and communication, aviation and financial expertise. Third, the reason is that if income and employment increase, the positive affinity can be reduced. Through KOR-US FTA we can enhance the competitiveness about IT, automotive, business related services and knowledge-intensive services and income inequality can be improved by creating quality jobs. These reasons, I think it is important to us. In addition, I think the government has to prepare a number of ways to help alleviate polarization and redistribution of economic benefits. Also, the government should think about the areas that will be negatively hit such as the agricultural, service sectors and pharmaceutical company.