Question

1. Why has the agreement been questioned both in the EU and South Korea?

2. Why are Japanese businessmen worried about the agreement? Why are Japanese policy-makers trying to sign a similar deal with the EU?

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.cebre.cz/dokums_raw/2010_10_14_cefic_note_on_eu_s_korea_fta.pdf&ved=2ahUKEwiI-9vZ_o3qAhUl-2EKHT3QD-8QFjADegQIBRAB&usg=AOvVaw2nGSd8PDOgXwZDT0bLYnHp&cshid=1592573733996

Answer 1

Answer(1): The agreement has been questioned both in the EU and South Korea due to the following reasons:

• EU and South Korea are important trading partners they also share important values like democracy, a market economy, and human rights.
• EU and south are strategic partners.
• But EU faces many uncertainties as there is split in many countries of European countries with the EU. This is the reason people are questioning their free trade agreement.
• As there is a Brexit issue going on.
• South Korea need to maintain good relations with both the EU and the UK.
• South Korea needs to main healthy relations with European countries.
• South Korea needs to maintain trustworthy bilateral relations with the UK .
• otherwise, they might face trade deficit.
• South Korea needs to reaffirm ties with the UK as an important partner in trade and security issues.

Answer(2): Japanese businessmen are worried about the agreement due to the following reasons:

1. Japanese businessman is concerned about the impact of a free trade agreement between South Korea and the EU.
2. This may damage the Japanese business
3. according to japan's business federation, South Korea EU free trade agreements as a big shock and they also need to make a similar pact with the EU.

Japanese policy-makers are trying to sign a similar deal with the EU

1) Japan is a big market for EU exports, but European firms face lots of trade barriers when exporting to japan like high import duties and difficult procedures, standards different from international standards.

2) In order to overcome the situation and making trade relationships with EU Japanese remove trade barriers, and make it easy for firms to sell goods and services to Japan.

3) Now they come up with EU and japan global trade rules in lines with high standards.

4) strengthening relationship by cooperation and rejecting protectionism.