ISDS Case Map
Korea
Korea will hold talks with the EU over vehicle gas mileage and greenhouse gas emission standards in the free trade agreement after renegotiations of the FTA with the US opened the door for adjustments.
United Auto Workers President Bob King sparked outraged among progressives and the labor movement by endorsing the Korea Free Trade Agreement. The Economic Policy Institute estimates that the treaty will cost 159,000 American jobs over the next five years.
Hyundai-Kia Automotive Group is bracing for stiffer competition in the domestic market under the Korea-US free trade agreement, as the pact will likely make Japanese and German cars much more price-competitive here.
Organized labor in the US is in an uproar over the new free trade agreement with South Korea, with some union leaders accusing United Auto Workers president Bob King of embracing a deal to curry favor with a White House that saved the UAW with its $80 billion bailout of the auto industry.
In early signs that the renegotiation of Korea's free trade agreement with the U.S. was the thin end of the wedge, the European Union Chamber of Commerce in Korea said Monday it is reexamining environmental and safety clauses in the automotive segment of the Korea-EU FTA.
Canadian companies risk losing ground in South Korea now that both the United States and the European Union have sealed free-trade deals with the Asian export powerhouse.
The ruling and opposition parties are set to lock horns over the free trade agreement with the U.S. to be submitted for parliamentary ratification early next year. Rival parties have shown clear differences over the recently concluded accord.
South Korea and the United States finally reached an agreement after their intense renegotiations of free trade deal (KORUS FTA) on Friday.
It happened right after the signing of the Uruguay Round Agricultural Agreement on Dec. 15, 1993. At the time, opposition parties and farmers’ groups raised strenuous objections to the outcome of the negotiations. They asked the government if it was possible to enter new negotiations and revise the plan for market opening. They were asking for a bit more time for Korean farmers to prepare. The response from government officials was adamant: “Not a single dot or line can be revised.”
Korea and the United States have extended their talks on a pending free trade deal by at least one more day in a last-minute effort to reach an agreement.
