SEOUL, Aug. 8 (Korea Bizwire) — South Korea may be hit hardest if the United States turns up the heat on China over trade issues as Seoul vies fiercely with Beijing for a bigger slice of the U.S. market, a report said Tuesday. The Korea International Trade Association (KITA) claimed in the report that Washington [...]
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 [...]
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. [...]
SEOUL, July 14 (Korea Bizwire) – South Korea is preparing for upcoming talks to amend a free trade agreement (FTA) with the United States, officials said Friday. On Wednesday (U.S. time), the U.S. Trade Representative (USTR) requested that its South Korean counterpart hold a special joint committee to discuss the amendment and modification of the [...]
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 [...]
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 [...]
SEOUL, April 28 (Korea Bizwire) – The three-year-old free trade agreement with Vietnam will allow South Korean companies to further increase their auto, steel and petrochemical exports on tax removal or cuts, customs experts said Thursday. In a seminar held at the Korea Chamber of Commerce and Industry (KCCI) in central Seoul, customs experts called [...]
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 [...]
SEOUL, March 14 (Korea Bizwire) – Many U.S. exporters and importers believe the free trade agreement (FTA) between South Korea and the United States not only helped keep their business growing but also improved their products and services, a report showed Tuesday. In recent interviews with the U.S. office of the Korea Trade-Investment Promotion Agency [...]
SEOUL, March 13 (Korea Bizwire) – The United States has benefited even more than South Korea has from the countries’ free trade agreement (FTA), experts here said Monday, noting a demand to renegotiate the terms of the bilateral pact by Washington may well work to serve Seoul’s interest. The Korea-U.S. FTA, also known as the [...]