The Korea-US FTA (KORUS FTA) will be effective as of March 15, 2012 according to a recent agreement by the two nations.
Bilateral trade between the United States and Korea reached, according to Korean government statistics, over USD 90billion in 2010. Most mainstream commentators expect the deal to increase trade between the nations immediately. Korea, in recent years, has had difficult in attracting foreign direct investment (FDI), because of the financial crisis and an impression among many investors that Korea is far from friendly to foreign capital (i.e. Lone Star). Many expect, also, an increase in FDI into Korea.
Liberal parties, in Korea, have vowed to repeal the implementation law if they win in the April general elections.
What do you think?
Other posts that may be of interest:
- Korea-US FTA to be Effective as Of March 15, 2012
- Protest in Yoido Against Proposed Korea-U.S. FTA: Death of FTA?
- Korea Fair Trade Commission to Enforce Mislabeling and Misleading Advertisement Law in Korea: May the Seller Beware
- Will the Failure to Pass the KOR-US FTA by Korean NA Harm Korea?
- Benefits to Korea in Free Trade Agreements with EU, ASEAN, US and Chile?
- Korea and Myanmar Now Not as Far Apart
- Korea Needs a Rugby Team: Sports as a Driving Force for Economic Growth in Advanced Economies like Korea by Daniel Gardner
- Korea Companies Defendants in Anti-Dumping Lawsuits Second to Only China: Check the Veracity of Data Produced by Korean Companies
- KOR-US FTA Passed the Korean National Assembly Today
- KOR-US FTA to Pass Korean National Assembly by End of October