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 Needs a Rugby Team: Sports as a Driving Force for Economic Growth in Advanced Economies like Korea by Daniel Gardner
- South Korean Economy May be in a Slow Decline: Sign of M & A Increase in Korea?
- Expanding your business into Asia? Use Korea as a Test Bed
- Export of Korean Nuclear Technology Abroad: Netherlands Inks Deal with Korea for a Reactor Upgrade
- UN Report: Korea’s Latest Successes and Shortcomings
- South Korea and Vietnam Negotiate FTA: Korea’s Nuclear Exports
- U.S. Imposes Steel Tariff on Korean Imports
- South Korea’s Nude Beach in Gangwon Province to Open
- Samsung’s Shareholdings Explained by Wall Street Journal
- Agricultural Business Opportunities in Korea: USD 2 Billion Fund to be Established