[FTA HONG] Summary of the RCEP (FTA utilization rate, FTA utilization by industry, and summary of highlights)
RCEP(Regional Comprehensive Economic Partnership) is the world's largest MEGA FTA, and Korea will be able to enjoy additional tariff benefits in addition to the effects of the existing FTA. It is also significant in that it is the first FTA between Korea and Japan. RCEP is comprised of 10 ASEAN countries, orea, China, Japan, Australia, and New Zealand. The ASEAN is composed of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Vietnam, Thailand. India is not currently a member of RCEP. The RCEP has now entered into force with 14 countries, excluding Myanmar. In the case of RCEP, FTA import/export utilization rate was analyzed only for Japan, as RCEP has different FTAs with all 13 countries except Japan. In practice, RCEP is mostly utilized in Japan. For exports, 97.4% of the utilization is for the top three countries: Japan (67.3%), China (27.7%), and Thailand (2.4%), while for imports, 98.5% of the utilization is for the top three countries: