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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. [...]

KORUS FTA Cancellation to Hurt U.S. Firms More than S. Korean Counterparts: KIET

SEOUL, Jun. 5 (Korea Bizwire) — The cancellation of the free trade agreement (FTA) between Seoul and Washington will be more detrimental to U.S. companies than their South Korean counterparts, a local think tank said Sunday. According to the Korea Institute for Industrial Economics and Trade (KIET), if the South Korea-U.S. pact (KORUS) is nullified [...]

S. Korea to Suffer $17 Billion Loss in Exports If FTA with U.S. Renegotiated

S. Korea to Suffer $17 Billion Loss in Exports If FTA with U.S. Renegotiated

SEOUL, May 2 (Korea Bizwire) – South Korea’s exports to the United States are expected to suffer losses as much as US$17 billion over five years if the two nations renegotiate a bilateral free trade deal, according to a report on Sunday.  South Korea’s businesses remain concerned after U.S. President Donald Trump told Reuters in an interview last week that he will either renegotiate or scrap the free trade deal with South Korea, calling it “horrible.” If tariff [...]