Abstract
Under the UK-Korea-Japan-EU FTA, Korea and Japan’s GDP will increase, the UK’s GDP will not significantly. China and the EU’s GDP will decrease. Exports from the UK, Korea, Japan, and the EU will increase to member countries, but will decrease to non-member countries in most manufactured sectors. The UK and Japan will see large import increase effects. Korea’s imports from Japan will experience import increase effects in most sectors. EU imports from Korea and Japan will increase, but they will decline in most manufactured goods sectors from the UK and non-member China due to import decrease effects of the UK-Korea-Japan-EU FTA. Korea, Japan, and the EU experience positive welfare gains while the UK, China, and the rest of the world experience negative welfare gains.
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