Abstract
Purpose - This research aims to enhance the understanding of Asia’s economic relationships and international economic governance, with a focus on the Regional Comprehensive Economic Partnership (RCEP). Specifically, this paper seeks to provide recommendations for South Korea’s participation and effective utilization in RCEP within the Asian region. Also this study suggests the significance of the Rule of Origin in Free Trade Agreements (FTAs), and highlights the importance of a cumulative certificate of origin, which refers to a document that verifies the cumulative origin of goods in international trade, applicable to 15 RCEP countries, as compared to existing bilateral FTAs.
 Design/Methodology/Approach - This paper reviews previous studies related to ASEAN and RCEP, discussing the findings and key issues addressed in earlier research efforts. News articles and statistics either of political conflicts or economic implications are utilized in this context.
 Findings - Currently, the global economic governance system, centered around the World Trade Organization (WTO), is facing challenges due to economic and trade friction between major powers, exacerbated by the COVID-19 pandemic. Regional economic integration bodies like RCEP are taking on a new central role in international trade rules.
 Research Implications - This research implies that the economic relations in the Asia-Pacific region have been steadily strengthening, and this contributes to maintaining stability through economic interdependence even in the presence of political conflict, and there is a room for South Korea to contribute.
Published Version
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