Korea has been a most successful story of the externally oriented trade policy in the modern world history. From less than US $100 million  in 1964, Korea's export to the world splendidly reached at more than US $200 billion in 2004. This skyrocketing increase of the external export certainly helps this country out of the world's deepest poverty and now places her near the global top ten economies. Since Korea's accession into the GATT system in 1967, when Kennedy Round just completed, the world trade environment had been favorable for developing countries to pursue an outward oriented growth approach, and Korea definitely benefited from such a friendly condition. However, in recent years, voices against free trade have grown high within Korea. These groups with their own purpose often attack the policy of global market liberalization as harmful threats to Korea's agriculture, environment, cultural heritage, labor forces, and so on. However, those accusations are groundless and even pose a great danger to the future economic growth for Korea. Against such a misguidance, this report on Korea's International Trade Policy : Past, Present, and Future attempts to analyze Korea's free trade policy from the early 1960s to the contemporary and seek a desirable future policy direction. After the brief survey of theoretical support for the free trade and reality check in a practical policy arena in the part one, this seven parts reports look at the past of Korea's trade policy. The chronological description of Korea's international trade policy in the part two reveals that her export led growth strategy was well suited with the international atmosphere of aid through trade for the developing countries. Since the 1980s, however, as Korea's trade surplus turns into black, international pressure for domestic market opening increases. To ease the trade frictions, Korea started to pursue domestic market liberalization policy. Nevertheless, Korean market has not been liberalized fully to the level of surviving in a world of borderless competition yet. Using a logistic smooth transition model, the part three of this study attempts to evaluate the economic growth effects of the free trade policy in Korea. Not surprisingly, the estimated result shows that free trade positively affects the Korea's economic growth rate. Especially after the 1990s, when Korea settled into a low growth equilibrium path, market opening has contributed more than half of her economic growth. The part four through the part six of this report examines the current issues of Korea's international policies, such as FTA and DDA negotiations and the internal decision making system of trade policy. Each of these parts well describes the difficulties that Korea faces in the races for regionalism and globalization these days. Together with policy prescriptions in each of these parts, the final part seven of this report concludes with the suggestions for the future directions for the Korea's international trade policy. The conclusions are as follows : Departing from the imitation only policy; Being frank with what it can do and not; Seeking a full scale industrial restructuring; Building strong organizational capacity for trade policy; and Pursuing active national interest at the trade negotiations.