Due to the fifth enlargement of EU inclusive of ten middle and eastern European countries, there are some fundamental changes in trade environment of Korean economy. In accordance with the Deepening of EU integration and the growing possibility of eff...
Due to the fifth enlargement of EU inclusive of ten middle and eastern European countries, there are some fundamental changes in trade environment of Korean economy. In accordance with the Deepening of EU integration and the growing possibility of effectuation of trade-diversion effect and trade barrier, the need for early contract of trade agreement between Korea and EU now becomes a big subject of the conversation. In fact the structure of trade and investment on enlarged EU is uneven among the member countries. Furthermore we can not satisfied with the magnitude of the investment and trade with the newly joining countries. Of all things, it is urgent to make a systematic strategy based on the analysis on the economic rate of combination between Korea and EU to prepare for the expanding of EU market condition. To cope with dealing the middle and eastern European countries, we need to observe carefully the institutional and politic changes caused by the deepening of EU integration. And also it is required to explore ways for setting up a new paradigm of trade agreement to remedy the problems incured by other FTAs in diverse regions in the world. Conclusively, to hold the division of international trade and reinforcement of regionalism and to make the trading partners promote their sturdy economic growth as well, it is important to devise a new mode of reciprocal trade system with the new member countries. This paper does not simply consider the emergence of EU and Euro-currency as historical events but examines the influence of EU and Euro-currency on our country and prepares proper measures by being well aware of the situation.