The National Trade Commission of Korea has awarded damages to a Korean pork processor for injury it has sustained as the result of the Korea-EU FTA. The pork processor will, now, be able to receive Korea government support. Hopefully, the support will be used to lower the price of Korean pork and not just pad the coffers of the processor.
Prior to the implementation of the Korea-EU FTA, Korea pork has a near 85% market share. Today, the share stands at around 70% and is expected to further decrease. Three other cases have been filed to the National Trade Commission.
Sean Hayes, IPG's Co-Chair of the Korea Practice Team, may be contacted at: SeanHayes@ipglegal.com