ISDS Case Map
Korea
The governing Grand National Party (GNP) stepped back Tuesday from its plan to pass the Korea-U.S. free trade agreement (KORUS FTA) unilaterally, vowing to make further efforts in drawing bipartisan consensus for the ratification.
Rival parties are set to lock horns over parliamentary approval of the free trade agreement with the United States.
President-elect Barak Obama will support the passage of the Korea-U.S. free trade agreement (FTA) in the long run to maintain the strategic relationship between the two countries, according to a noted U.S. expert.
European carmakers have attacked a proposed trade agreement with South Korea, claiming that it is lopsided and sacrifices their interests for the benefit of Europe's services industries.
South Korea on Wednesday urged the new U.S. president not to renegotiate a free-trade deal signed last year, saying the winner of the vote will find the pact beneficial to both sides.
South Korea's push to ratify a free trade agreement (FTA) with the United States by year's end is widely expected to face further hurdles following Barack Obama's election as US president.
It is natural that the government shifts its focus from the financial sector to the real economy in dealing with the ongoing crisis.
The administration and ruling party decided October 31 that they are going to move towards an early ratification of the free trade agreement with the United States, meaning many will be watching to see whether a ratification bill passes the current National Assembly session.
The U.S. has led the way in efforts to lower barriers to global trade since World War II, despite opposition from unions and voters hurt by foreign competition. This election could put trade-liberalization on ice for a while.
President Lee Myung-bak called for a quick approval of the free trade agreement (FTA) signed between South Korea and the United States in a meeting with business leaders from both countries in Seoul Friday.
