The Korean Economic Forum
The Impact of Liberalization Induced by Korea’s FTAs on Health Industry
Mee Jin Cho (Myongji University)Year 2021Vol. 14No. 1
This paper aims to examine the effects of trade liberalization induced by Korea’s FTAs with the U.S., EU and India on the health industry. The health industry includes the product groups of medicines, medical equipments and cosmetics. Given that the product groups in this sector can not be simply classified by HS 2-digit or 4-digit levels, this study measures the preference margins and utilization rates for each FTA by using Korea’s imports data at HS10-digit level. In doing so, it is found that Korea’s FTAs with the U.S., EU,and India have improved market access in the health industry.