In the past ten years, the trade between China and South Korea has developed significantly, and there have also been corresponding progress in environmental protection, tourism, etc., which makes the economic and trade development prospects between the two countries bright. Since the financial crisis in 2008, the growth rate of the global economy has relatively slowed down, while the trade cooperation between China and South Korea has been further expanded. the trade cooperation has positive and progressive significance for the economic development of both countries. However, the current spread of protectionism between China and South Korea in trade has led to the gradual intensification of market competition, coupled with historical factors and other reasons, which have greatly affected the healthy development of trade between the two countries. Therefore, this paper mainly studies the economic effects between China and South Korea from the perspective of global value chain.

Ⅰ. Introduction
II. Current Situation and Characteristics of China-Korea Trade
    1. Status Quo
    2. Features
III. Analysis of the Advantages and Disadvantages of the Establishment of theChina-Korea Free Trade Area
    1. Advantages
    2. Disadvantages
Ⅳ. Economic Effects of China-Korea Free Trade Area
    1. Static Effect
    2. Dynamic Effect
Ⅴ. The Positive Effect of the China-Korea Free Trade Zone on China’s ForeignTrade
    1. Play a D emonstration Role i n t he E conomic a nd Trade Activities of C hina a ndNeighboring Countries
    2. Actively Promote the Upgrading of the Industrial Structure between China andSouth Korea
    3. Conducive to Adjusting the Structure of China’s Export Commodities
    4. Promote the Development of China’s Technology Trade
Ⅵ. Strategies for Strengthening China-South Korea Trade Cooperation
    1. Improve the Long-term Plan for Sino-Korea Trade Cooperation
    2. Improve the Trade Environment between China and South Korea and Realize theUpgrading of the Industrial Structure Model
Ⅶ. Conclusion
References
ABSTRACT

• Xu Li(Doctoral Student, Department of Global Food Service Management, Woosuk University)
• Sun Fengfei(Doctoral Student, Department of Global Food Service Management, Woosuk University) Corresponding Author