The government will protect sensitive industries such as agriculture in the upcoming negotiation with the United States over revision of the bilateral trade pact.
The damage to the overall agricultural sector during the five years since the KORUS FTA took effect has been “broad and deep” across nearly all products.
Trade officials of South Korea and Britain will meet to discuss ways to forge a new trade deal after London exits from the European Union, Seoul's trade ministry.
Turkish and South Korean announced the completion of the approval processes for the Free Trade Agreement. The approval processes of the Service Trade Agreement will also be completed soon, they also stated.
South Korea needs a balanced and sophisticated strategy to cope with efforts by China and Japan to take the lead in building a free trade framework for Asia and the Pacific amid the US’ strengthening protectionism, experts say.
Two years after the South Korea-China FTA took effect, the two countries are expected to launch a second round of negotiations to further open up the service and investment sectors.