Service Industries in the North-east Asian Countries: Strengthening the Competitiveness through Competition and Opening.

This paper reviews the current status of service industries in the north-east Asian countries: China, Japan and Korea. The paper recognizes the need to increase the efficiency and competitiveness of service industries in the region. The paper then discusses Korean experience in deregulation and opening of service industries to foreign direct investment (FDI). Specifically, the paper examines FDI inflows into Korean service industries, identifying effects of recent regulatory changes in service industries in Korea. The paper derives policy implications regarding service industries in the region. Balanced view on service industries and broader approach to free trade agreement (FTA) are suggested. [ABSTRACT FROM AUTHOR]