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What Counts as Korean Made: Relaxing Territoriality Principle Under Rules of Origin

What Counts as Korean Made: Relaxing Territoriality Principle Under Rules of Origin. Jong Bum Kim Director, FTA Goods Negotiation Division. What Counts as Korean Made: Relaxing Territoriality Principle Under Rules of Origin. Introduction. What role does rules of origin play in FTAs?.

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What Counts as Korean Made: Relaxing Territoriality Principle Under Rules of Origin

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  1. What Counts as Korean Made: Relaxing Territoriality Principle Under Rules of Origin Jong Bum Kim Director, FTA Goods Negotiation Division

  2. What Counts as Korean Made: Relaxing Territoriality Principle Under Rules of Origin • Introduction What role does rules of origin play in FTAs? How are goods produced in Gaesong Industrial Complex (GIC) treated under a Free Trade Agreement? Expanding the coverage of preferential rules of origin: relaxing the territoriality assumption

  3. What Counts as Korean Made: Relaxing Territoriality Principle Under Rules of Origin • Economic Effects of Rules of Origin under FTA Trade creation under FTA rules of origin Reduced output of home industry in favor of import from FTA partners Trade diversion under FTA rules of origin - Trade diversion in sourcing intermediate goods • Sourcing from low Cost world to higher cost partner because of FTA tariff • Sourcing from low Cost world to higher Cost partner because of accumulation FTA Rules of Origin as Non Tariff Barrier Proliferation of preferential rules of origin

  4. What Counts as Korean Made: Relaxing Territoriality Principle Under Rules of Origin • Methods of Determining Rules of Origin under FTAs Substantial transformation Measuring substantial transformation - Change in Tariff Classification - Value Added - Specific Processing Operation

  5. What Counts as Korean Made: Relaxing Territoriality Principle Under Rules of Origin • Gaesong Industrial Complex (GIC) Overview Historical Meaning of GIC Project Labor Conditions in GIC Customs Procedures in GIC

  6. What Counts as Korean Made: Relaxing Territoriality Principle Under Rules of Origin • Korea’s FTA Provisions in GIC Processing Korea-Singapore FTA Korea-EFTA FTA

  7. What Counts as Korean Made: Relaxing Territoriality Principle Under Rules of Origin • Relaxing Territoriality Assumption Reflecting Globalized Manufacturing Process - Outward Processing - Accumulation WTO GATT Article XXIV Consistency?

  8. What Counts as Korean Made: Relaxing Territoriality Principle Under Rules of Origin • Conclusion Implication on GIC on Negotiating of FTA Implication Regarding Preferential Rules of Origin - Rules of origin should facilitate Trade not pose barrier to trade - Rules of origin need to reflect changing global manufacturing process - Rules of origin need to made simpler

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