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S. Korea Submits KORUS FTA Plan to Parliament

S. Korea Submits KORUS FTA Plan to Parliament

SEOUL, Dec. 4 (Korea Bizwire) — The South Korean government will establish a plan to renegotiate the free trade agreement (FTA) with the United States and notify its course of action to the National Assembly, the trade ministry said Monday. Trade Minister Kim Hyun-chong held a meeting with officials from 20 ministries and government organizations [...]

U.S. Citizen Sues Korean Government Citing Korea-US FTA Over Land Expropriation

U.S. Citizen Sues Korean Government Citing Korea-US FTA Over Land Expropriation

SEOUL, Oct. 25 (Korea Bizwire) – For the first time, a U.S. national has sued the South Korea government over land expropriation, citing the free trade agreement between South Korea and U.S. The Ministry of Justice said on Tuesday that a U.S. citizen, identified only by her surname Seo, filed a request for arbitration through investor-state [...]

U.S. and China’s Growing Protectionist Attitudes Cause Government to Look to the South

U.S. and China’s Growing Protectionist Attitudes Cause Government to Look to the South

SEOUL, Sept. 11 (Korea Bizwire) – Increasing roadblocks on the path towards the Chinese economic heartland and a disquieting back and forth with the United States over the KORUS FTA has pushed the South Korean government to grow its trade with India and South Asian nations.  According to the Ministry of Trade, Industry and Energy, [...]

South Korean Analysts Find Dismantling KORUS FTA Advantageous for South Korea

South Korean Analysts Find Dismantling KORUS FTA Advantageous for South Korea

SEOUL, Sept. 5 (Korea Bizwire) — While the alleged development of a hydrogen bomb by North Korea is keeping the military on alert, Donald Trump’s allusions to a possible termination of the Korea – U.S. Free Trade Agreement is keeping the nation’s economy in a similar state. In the latest stream of news either decrying [...]

S. Korean Firms Step Up U.S. Lobby as Trade Issues Take Center Stage

S. Korean Firms Step Up U.S. Lobby as Trade Issues Take Center Stage

SEOUL, Jul. 25 (Korea Bizwire) — S. Korea’s big name exporters have stepped up their lobbying activities in the United States after the Donald Trump administration took office, data showed Tuesday, apparently to smooth out potential trade issues. U.S. Senate Lobbying Disclosure Database showed that tech giant Samsung Electronics spent US$1.47 million on lobbying activities [...]

Data Indicate Tariff Elimination Doesn’t Account for Increased Korean Car Exports to U.S.

Data Indicate Tariff Elimination Doesn’t Account for Increased Korean Car Exports to U.S.

SEOUL, Jul. 16 (Korea Bizwire) — South Korea’s car exports to the United States have declined, rather than increased, after the two countries abolished import taxes last year as part of their free trade agreement, data showed Sunday. The Korea Automobile Manufacturers Association (KAMA) published the analysis that rebuts a widespread belief in the U.S. [...]