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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

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 [...]

Pence Says Washington Will ‘Reform’ FTA with S. Korea

Pence Says Washington Will ‘Reform’ FTA with S. Korea

SEOUL, April 18 (Korea Bizwire) – U.S. Vice President Mike Pence said Tuesday that Washington will review and reform the free trade agreement with South Korea, citing “too many barriers” to U.S. businesses.  The visiting vice president made the remarks during an American Chamber of Commerce meeting in Seoul. South Korea and the United States [...]