Services in International Trade of South Korea: Factors Influence on the Share

This study examines factors affecting the share of services in international trade focusing on Republic of Korea. South Korea is known to be one of the most complex economy in th world. As a part of East Asia region, its comparativeness in services in international trade will be analyzed based on the statistics from 2006 to 2016 provided by Korean Statistical Information Services at Statistics Korea and World Trade Statistics Review 2015 and 2016. As a theoretical study, qualitative method is used based on the literature review in order to build a theoretical framework which can provide the boundaries for this study and its position within the context of services and perspective of international trade. Then, this study can present a comprehensive assessment of international trade in services and an analysis of its prospects. Through the analysis, the share of services is determined to be sensitive to the multiple factors: technological development, liberalization of the processes, privatization and deregulation, and entrance of foreign investors to the service markets.