71126 v2 Korea, Rep.: Trade At-A-Glance Dec-08 2007 GDP 2007 GDP 2007 Share 2007 Trade Membership No. of RTAs/ EIAs (millions) per capita in World Trade per capita GATT WTO Goods Services $951,436 $19,569 2.70% $18,449 1967 1995 6 3 Korea R TRADE PERFORMANCE ‡ HI OECD Ranking Decile TP High inc TRADE POLICY (TP) (out of 125) 83 7 EXTERNAL ENVIRONMENT (EE) (out of 126) 17 2 TO EE INSTITUTIONAL ENVIRONMENT (IE) (out of 181) 23 2 TRADE FACILITATION (TF) (out of 151) 25 2 TRADE OUTCOME (TO) (out of 161) 62 4 TF IE ‡ Rankings are based on the "representative" indicators (in bold) in each group below for the latest year Outer bound represents best value in latest year TRADE POLICY (TP)  1995-99^ 2000-04^ 2005-07^ Latest^ Trade Tariff Restrictiveness Index (MFN applied tariffs)& 9.9 8.2 8.2 * TTRI (applied tariffs including preferences) & .. 8.2 8.2 * TTRI Overall TRI (OTRI, applied tariffs incl. prefs.+NTMs)& .. .. .. (MFN) Other trade policy indicators MFN applied tariff - simple avg (%) 10.7 12.3 12.1 12.2 * Applied Dispersion (coefficient of variation) 1.9 4.3 3.5 3.5 * tariff (wgt avg) Maximum rate 377.5 897.3 801.4 803.5 * Agriculture - simple avg (%) 30.7 47.9 48.1 49.0 * Import Nonagriculture - simple avg (%) 7.7 6.9 6.7 6.6 * duties MFN applied tariff - trade weighted avg (%) 9.2 9.6 7.3 7.1 * MFN zero-duty imports (% in total imports) 2.3 20.6 29.9 34.7 * Applied tariff (incl. prefs.) - trade weighted avg (%) 9.2 9.6 7.1 6.8 * Nontariff measures Agriculture 49.2 103.8 90.1 89.9 * Nonagriculture 6.2 4.4 3.7 3.4 * 0 10 20 30 40 Applied tariff (incl. prefs.) - production weighted avg (%) .. 19.0 8.6 * HI OECD High inc Korea R Applied tariff (incl. prefs.) escalation (finished% minus raw%) -18.0 -18.3 -18.5 * Agriculture .. -15.1 -15.5 -17.0 * Nonagriculture .. -0.2 0.9 0.8 * Import duties (% of imports) 3.3 2.6 2.0 .. Services commit. Tariff overhang (MFN bound less MFN applied rate,%) 4.0 3.0 4.4 4.4 * Bound tariff frequency ratio (% of total lines) 94.6 94.6 94.5 94.5 * Specific tariffs frequency ratio (%) 0.3 0.1 0.7 0.7 * 0 40 80 Non-tariff measures frequency ratio (%) 36.9 .. .. .. HI OECD High inc Korea R Overall GATS commitment index (0-100, best) .. 41.2 41.2 EXTERNAL ENVIRONMENT (EE)  1995-99^ 2000-04^ 2005-07^ Latest^ MA-TTRI (applied tariffs incl. prefs.)& 4.6 4.6 * MA-OTRI (applied tariffs incl. prefs.+NTMs)& 9.8 9.8 * MA-TTRI Other external environment indicators ROW applied tariff (incl. prefs.) - weighted avg (%) 6.7 5.3 4.1 3.8 * MFN duty free Agriculture 20.4 16.5 12.0 10.5 * (exports) Nonagriculture 6.5 5.2 4.0 3.8 * MFN zero-duty exports (% of total exports) 27.4 39.4 47.5 45.6 * Value of prefer Exports with FTA / CU partners (% of total exports) 42.9 47.0 48.5 48.8 * Preferences (EU+U.S.) utilization rate (%) .. .. .. .. 0 1 Lowest Highest Preferences (EU+U.S.) actual value (% of exports) .. .. 0.0 0.0 * HI OECD High inc Korea R Real effective exchange rate (% change,+ =apprec.) .. .. .. .. ^ Indicators shown are period averages, incl. growth rates. Latest indicates 2008; when not available, 2006 or 2007 is used(noted by *). For more infor., see User's Guide at http://www.worldbank.org/wti2008. ŸMFN: most favored nation; NTM: nontariff measures; MA: market access; ROW: rest of the world; FTA: free trade agreement; CU: customs union; WTO: World Trade Organization GATT: General Agreement on Tariffs and Trade; WGI: World Government Indicators; ".." indicates missing value; RTA/EIA: regional trade arrangement / economic integration arrangement; & 2007 are preliminary estimates Korea, Rep. Trade At-A-Glance Dec-08 INSTITUTIONAL ENVIRONMENT (IE) 2004 2006 2007 2008 Ease of Doing Business (rank out of 181) .. .. 22 23 Starting a business (rank) .. .. 107 126 Enforcing contracts (rank) .. .. 9 126 Ease of Doing Closing a business (rank) .. 11 8 Business Other institutional environment indicators WGI - Regulatory Quality (-2.5 to +2.5, best) 0.94 1.14 1.26 .. 0 80 160 WGI - Rule of Law (-2.5 to +2.5, best) 0.70 0.69 0.82 .. HI OECD High inc Korea R WGI - Control of Corruption (-2.5 to +2.5, best) 0.29 0.29 0.36 .. TRADE FACILITATION (TF) 1995-99^ 2000-04^ 2005-07^ Latest^ Logistics Performance Index (LPI, 1 to 5 best) .. .. 3.5 3.5 * Efficiency of customs and other border procedures .. .. 3.2 3.2 * Logistic Index Quality of transport and IT infrastructures .. .. 3.4 3.4 * International transportation costs .. .. 3.4 3.4 * Logistics competence .. .. 3.6 3.6 * Trading Trackability of shipments .. .. 3.6 3.6 * Across Borders Domestic transportation costs .. .. 2.7 2.7 * Timeliness of shipment .. .. 3.9 3.9 * Other trade facilitation indicators UNCTAD Shipping Doing Business - Trading Across Borders (rank out of 181) .. 13 12 No. of documents required for exports .. .. 5 4 No. of days process required for exports .. .. 46 46 Telephones Cost to export (US$ per container) .. .. 768 767 per 100 No. of documents required for imports .. .. 7 6 No. of days process required for imports .. .. 11 8 Secondary Cost to import (US$ per container) .. .. 942 747 enrollment Liner shipping connectivity index (0-100 best) .. .. 71.2 77.2 Telephones and mobiles per 100 people 66.7 119.5 133.0 137.6 * 0 Lowest 1 Highest Average cost of 3-minute call to U.S. (US$) 3.8 1.4 .. .. HI OECD High inc Korea R Internet usage (per 100 people) 7.2 54.8 70.2 71.7 * Secondary gross school enrollment (%) 101.1 92.8 95.3 97.5 * * TRADE OUTCOME (TO) ## 1995-99^ 2000-04^ 2005-07^ Latest^ Real growth in trade of goods and services (%) 12.5 12.0 10.5 7.8 14 12.5 12 12.0 Exports 17.1 13.0 10.8 7.3 10.5 10 8.7 Imports 9.3 11.0 11.1 8.5 8 8.4 7.9 7.2 7.8 6.6 Other trade outcome indicators 6 5.7 5.3 4 Trade integration (trade as % of GDP) 66.5 75.4 85.7 117.6 2 FDI inflow (% of GDP) 1.0 1.0 0.5 0.2 0 1995-99 2000-04 2005-07 2008 World trade share growth (%) 1.3 2.9 2.2 2.7 Trade Growth Rate Exports 3.0 2.1 0.0 -0.5 Korea R HI OECD High inc Imports 0.1 3.9 4.6 5.9 Merchandise share in total exports (%) 84.3 85.2 86.4 87.1 Exports Share (2005-07) Agriculture 2.8 2.0 1.5 1.4 * Service, Agric, Manufacturing 77.5 78.1 78.2 77.8 * 1.5 13.6 Mining, fuel and others 4.0 5.1 7.0 7.7 * Mining, Service share in total exports (%) 15.7 14.8 13.6 12.9 7.0 Tourism 3.6 2.9 1.5 1.3 * Transportation 6.4 7.2 7.2 7.6 * Other services 5.7 4.8 4.9 5.3 * Export product concentration index (0 to 100, highest) 14.8 15.3 15.9 15.6 * Manuf, Export market concentration index (0 to 100, highest) 26.8 29.1 28.9 28.5 * 78.2 Top 5 exports share (% of merchandise exports) .. .. 41.4 41.5 * Top 5 exports (SITC Rev. 2; 3 digit) ( 764) Telecom equipment (781) Passenger cars (776) Valves or transistors (793) Ships and boats (334) Heavy petroleum oils ^ Indicators shown are period averages, incl. growth rates. Latest indicates 2008; when not available, 2006 or 2007 is used (noted by *). For more info., see User's Guide at http://www.worldbank.org/wti2008 ## Most outcome indicators (mostly through 2007) are from the WDI (World Bank, Data Group), UNCTAD or COMTRADE; for filling gaps and 2008, data from the Prospects Group are used.