Opportunities for free trade between Korea and Euroasia Economic Union (EAEU)
Free Trade Agreements (FTAs) have become the most popular method of preferential law in various types of international economic agreements. Although many questions connected to Free Trade Zones (FTAs) are still concentrated in the economic sphere some partners operating in the framework of FTAs develop new functions in their international laws for the non-economic field. Thus, international laws can work as an important basis in order to stimulate further cooperation between partners. The article is devoted to the analysis of economic cooperation between Korea and the EAEU based on the possibilities of a bilateral free trade agreement. Russia is seeking new economic partners in the Asia-Pacific region within the framework of the New East Asia policy. As a result, the EAEU seeks not only to expand its membership, but also to strengthen economic cooperation with the countries of the Asia-Pacific region. Recently, their economic relations with the Asia-Pacific region have steadily developed. Korea faces a number of challenges in increasing economic instability around the world and it needs to diversify its partnerships with the emerging market economy. In 2016, Korea and the EAEU completed a joint study on the possibility of concluding a Free Trade Agreement. The EAEU member countries came to a general consensus on the need to develop industrial cooperation by expanding investment in the EAEU by Korean companies outside the traditional free trade agreements (FTAs).