An Analysis of Service Trade Regulation in ASEAN and Its Implications

Author
Meeryung La
Content Type
Policy Brief
Institution
Korea Institute for International Economic Policy (KIEP)
Abstract
The Korean government has been pursuing a New Southern Policy (NSP) focusing on the “3P” areas of cooperation ‒ People, Prosperity, and Peace. The NSP puts people at a center of policy, and emphasizes the enhancement of cultural conversation and people-to-people exchange between Korea and ASEAN. The majority of services trade, an area with a low level of cooperation between Korea and ASEAN, is inherently based on the exchange of people. Promoting services trade flows between Korea and ASEAN could contribute to achieving the vision of a People-centered community in the region. Also, when taking into account the fact that services are integral to the working of GVC, the government should pursue policies to promote services trade and to enhance cooperation with ASEAN in the services sector. To this end, we aim to identify the current status of service trade and service trade barriers between ASEAN and Korea. This report briefly covers ASEAN’s trade in services and the restrictiveness of service trade regulations in ASEAN, and then suggests policy recommendations based on the results.
Topic
International Cooperation, Regulation, Economy, Economic Policy, Trade
Political Geography
Asia, South Korea