Although the main objective of Free Trade Agreements (FTA) is market integration among member countries, there are limited studies supporting this impact. Our study explores whether FTA has enhanced market integration between South Korea and its FTA partners, focusing on South Korea’s fishery product import market. We investigate two research questions concerning FTA impacts: first, whether trade costs declined when South Korea imported fishery products from its FTA partners after the FTA; second, if the speed of the convergence of South Korea-its FTA partners’price differential of imported fishery products on trade costs result to occur more quickly after the FTA. To determine these outcomes, we utilize a Threshold Autoregressive Model covering the sample periods from January 2002 to April 2017. Our findings demonstrate the effects of FTA on market integration are different among FTA partners. FTA has enhanced the market integration between South Korea and Norway, Vietnam, and Spain, respectively, but not for others. Therefore, we find positive evidence of FTA on fishery import market integration between South Korea and Norway, Vietnam and Spain, respectively.

Ⅰ. 서 론
 Ⅱ. 한국의 자유무역협정(Free Trade Agreements)현황 및 효과
 Ⅲ. 차익거래 모델(Arbitrage Model)
 Ⅳ. 자료수집
 Ⅴ. 실증분석 모델 및 실증분석 결과
  1. 임계값 자기회귀모형(Threshold Autoregressive Model(TAR))과 추정절차
  2. 분석결과
 Ⅵ. 결 론
 REFERENCES

• 임은선(사우스캐롤라이나 대학교, Department of Economics, University of South Carolina, Columbia) | Eun-Son Lim
• 김기수(부경대학교 국제통상학부, Division of International Commerce, Pukyong National University) | Ki-Soo Kim Corresponding author