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Korea in a Changing Global Trade Landscape: Korea
Author:
Hua Chai
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and
Hyeryoun Kim
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Series:
Selected Issues Papers
Volume/Issue:
Volume 2025: Issue 014
Language:
English
Publication Date:
05 Mar 2025
DOI:
https://doi.org/10.5089/9798229003384.018
ISBN:
9798229003384
ISSN:
2958-7875
Pages:
16
Keywords:
trade policy; industrial policy; geoeconomic fragmentation; innovation; U.S.-China trade tension; Korea export share; U.S.-China trade relation; Korea's export; export destination; Exports; Trade tensions; Competition; Manufacturing; Tariffs; Global; North America
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IMF Selected Issues Papers are prepared by IMF staff as background documentation for periodic consultations with member countries. It is based on the information available at the time it was completed.
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The global trade landscape is being reshaped by geoeconomic fragmentation and the rise of industrial policies. This paper studies the impact of these trends on the export-oriented Korean economy. It documents both positive and negative effects of U.S.-China trade tensions, technology and supply chain restrictions, and industrial policies of major economies on Korea's trade and FDI, particularly that of its strategic sectors. To navigate the changing global trade landscape, Korea needs to focus on promoting innovation to maintain competitiveness, diversifying export destinations and supply chains, and expanding exports of services.
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Cover Selected Issues Papers
Selected Issues Papers
Publisher:
International Monetary Fund