Free trade agreements (FTAs) are proliferating in the Asia-Pacific
region. For the first time, Korea is pursuing such accords as part of a
strategy to restructure its economy and sustain the recovery from its
1997-98 economic crisis. Should it open talks with its largest trading
partner, the United States? This study examines the economic and
political benefits and challenges of pursuing bilateral FTA
negotiations, the impact of a prospective pact on other trading
partners, on the Asia-Pacific Economic Cooperation (APEC) forum, and on
the multilateral trading system.