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Jitters in South Korean Auto Industry Amid Negative FTA Reports

Jitters in South Korean Auto Industry Amid Negative FTA Reports

SEOUL, Mar. 27 (Korea Bizwire) — South Korea’s troubled automobile industry faces yet another blow amid growing speculation that the government might trade the sector in for favorable steel tariffs. Speaking to the press at Incheon Airport, South Korean trade minister Kim Hyun-jong. who had just returned from Washington, said, “Understanding on the bilateral FTA and [...]

S. Korea’s Imports of Vietnamese Farm Products Jump 34 pct After 2015 Free Trade Deal

S. Korea’s Imports of Vietnamese Farm Products Jump 34 pct After 2015 Free Trade Deal

SEOUL, Jan. 22 (Korea Bizwire) — South Korea’s imports of Vietnamese agricultural and livestock products jumped 34 percent two years after the two nations’ bilateral free trade deal came into force, data showed Sunday. Two-way trade between the two countries has risen since the deal went into effect in December 2015, making Vietnam the fourth-largest [...]

S. Korean Gov’t Making Last-Ditch Effort to Dissuade U.S. From Imposing Tariffs

S. Korean Gov’t Making Last-Ditch Effort to Dissuade U.S. From Imposing Tariffs

SEOUL, Jan. 11 (Korea Bizwire) – Deputy Minister for Trade Kang Sung-chun left for the United States yesterday as South Korea looks to make one last push to encourage its second-largest trading partner to back off from imposing tariffs on solar panels and washing machines. Though fingers are crossed, the general mood is pessimistic, with [...]

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 [...]