Abstract
Purpose - This paper analyzed the specialized patterns and dynamic changes of trade in services in Korea from 2005 to 2019, and suggested the competitiveness of Korean trade in services in the global trade environment will change after COVID-19. Design/Methodology/Approach - We constructed data using detailed classification statistics on trade in services, and applied the Lafay index to analyze specialized patterns. These were verified through Galtonian regression and Markov Transition Probability to measure the stability and volatility of the comparative advantage structure of trade in services in Korea. Findings - The trade pattern in service in Korea is centered around sea transport freight and construction, but the comparative advantage of some new growth services and high value-added services has improved due to the influence of IT and the Korean Wave. In particular, the possibility of a decline in competitiveness among new growth services and high value-added services was higher in service products with intermediate comparative advantages than those with weak comparative advantages. Research Implications - Korea’s trade in services needs policy support to develop co-prosperity while minimizing the impact of economic changes by expanding related IT infrastructure as well as discovering and improving mutual regulations on related services focusing on new growth services and high value-added services.
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