An Analysis of Service Trade Regulations in ASEAN and Its Implications

The Korean government is pursuing a New Southern Policy to diversify its trading partners and reduce US-China risk. This study aims to provide policy implications for promoting cooperation in services sector between Korea and ASEAN in line with such New Southern Policy which is at the stage of estab...

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Bibliographic Details
Published in:Policy File 2018
Main Authors: La, Meeryung, Shin, Mingeum, Shin, Minlee, Cheong, Jaewan, Kim, Jegook
Format: Report
Language:Korean
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Korea Institute for International Economic Policy
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Summary:The Korean government is pursuing a New Southern Policy to diversify its trading partners and reduce US-China risk. This study aims to provide policy implications for promoting cooperation in services sector between Korea and ASEAN in line with such New Southern Policy which is at the stage of establishing implementation strategies. Since Korean firms have continued to advance into the ASEAN market, the firms in the services sector such as finance, logistics, construction, distribution, and rental, etc., are also entering the market with the demand of incumbent manufacturing firms. However, due to the lack of relevant data, research on the service sector of ASEAN is insufficient. In addition, an analysis of service trade regulations of ASEAN is difficult because there are cases where the regulations of ASEAN member countries are different or even there is no transparent regulation. Therefore, this report try to analyzes the current status of trade in services and restrictiveness of service trade regulations of ASEAN using various methodologies such as statistical and empirical analysis, related law and literature survey, and field studies considering of the limited data sources and the specificity of ASEAN. Throughout the paper, Cambodia, Laos, Myanmar and Brunei are excluded from the analysis, and only six ASEAN countries are analyzed.