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The aim of this study is to estimate the price elasticity of import demand for agricultural and ginseng products from China The price elasticity of import demand for agricultural products from China was estimated to be 107 with a crossprice elasticity 044 and the income elasticity estimated to be 028 In the case of ginseng products price elasticity was estimated to be 059 with a crossprice elasticity 016 and an income elasticity of 044 The results of the analysis showed that Chinese ginseng products were less sensitive to price changes as compared to the total agricultural products In terms of income change they were found to be more sensitive as compared to the total agricultural products Because Chinese ginseng products are not greatly affected by price changes as compared to agricultural products in which the damage amount would be limited even if a KoreaChina FTA were to be concluded Therefore instead of focusing on imports defense it is believed that the focus should be on expanding exports

1 Introduction
11 Purpose of the Study
12 Status of Import and Export of Ginseng Products with China
2 Examination of Previous Studies
3 Data and Estimation
31 Data
32 Estimation
33 Test of models
4 Estimation Results
41 Import Function for Agricultural Products from China
42 Import Function for Ginseng Products from China
5 Conclusion and Policy Implications
References