ISDS Case Map
Korea
Leaders of South Korea's largest business groups urged the nation's parliament Thursday to quickly ratify a free trade agreement (FTA) with the United States signed four years ago.
The ruling Grand National Party and the Blue House increasingly raised their voices yesterday to stress that Korea’s legislature should approve the long-pending Korea-U.S. free trade agreement before August.
The White House is threatening to hold up final passage of three coveted free trade agreements unless lawmakers expand retraining assistance for American workers who lose their jobs because of foreign competition.
South Korean civic organization MINBYUN-Lawyers for a Democratic Society filed an administrative lawsuit against the Ministry of Foreign Affairs and Trade (MOFAT) on May 15, demanding that the ministry make public a letter on professional worker visa quotas that former Minister of Foreign Affairs and Trade Kim Hyun-chong is said to have received from the U.S. administration.
All eyes are on the new floor leaders of the Grand National Party and Democratic Party, who will lead their parties until the 2012 general election.
The American Farm Bureau Federation supports the proposed US free trade agreements with Korea, Panama and Colombia, while the National Farmers Union is opposed.
South Korea should pay more attention to reducing the fallout from its free trade deal with the U.S. since it is linked to national interest, Seoul's farm minister nominee said Wednesday.
The free trade deals with South Korea, Panama and Colombia will pass through Congress by August if Republicans renew funding for the retraining of displaced workers, the chief U.S. trade official said Thursday.
Sohn Hak-kyu, chairman of the main opposition Democratic Party, said on Wednesday that he would object to a bill to ratify the free trade agreement with the United States.
President Lee Myung-bak Tuesday urged major German companies to expand their investments in Korea, stressing that his country’s free-trade network will help European firms’ business in other foreign markets.
