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:
- Protest in Yoido Against Proposed Korea-U.S. FTA: Death of FTA?
- Benefits to Korea in Free Trade Agreements with EU, ASEAN, US and Chile?
- Korea Needs a Rugby Team: Sports as a Driving Force for Economic Growth in Advanced Economies like Korea by Daniel Gardner
- KOR-US FTA to Pass Korean National Assembly by End of October
- Australia Beef-Livestock Hit by Korea-U.S. FTA: Will Korea pen a FTA with Australia?
- Is the Korea-US FTA Dead at the Korean National Assembly
- Korea Legal News for the Week of March 30
- Korea Increasingly Respecting its Position and Responsibilites as an International Power
- Custom Clearance in Korea may be Getting Simplier for European Companies
- South Korean Economy May be in a Slow Decline: Sign of M & A Increase in Korea?