ISDS Case Map
Korea
Tens of thousands of South Koreans, most of them members of trade unions and farmers, staged a rally on Sunday against a free trade deal with the United States, vowing to block what they called a “pernicious” pact.
“I believe the Korea-US FTA is a clear infringement on Korea’s sovereignty,” Kang Ki-kab said. “Foreign investors will, I would say, rule the country.”
South Korea's ruling party on Thursday deferred ratifying the country's free-trade agreement with the United States for the second week in a row, aiming to strike a deal with opposition politicians to avoid a violent protest that would mar a vote.
The Ministry of Justice submitted a formal opinion strongly recommending caution with regard to the investor-state dispute (ISD) system, a key item of contention with the South Korea-United States Free Trade Agreement.
Seoul Mayor Park Won-soon has submitted an official opinion that the city opposes the Korea-US free trade agreement on Monday.
Korean prosecutors said Monday they will resort to arrests and physical detention in dealing with protesters against the country's long-stalled free trade agreement with the US.
The main opposition Democratic Party stepped up its public campaign against the Korea-U.S. Free Trade Agreement over the weekend, as the ruling Grand National Party mulled pushing a final vote at a plenary session Wednesday.
Confrontation at South Korea's parliament over a free trade deal with the United States showed no sign of easing Friday, as some opposition lawmakers took to the streets while others continued sit-ins.
The South Korean government describes the investor-state dispute system (ISD), introduced by the country for 81 bilateral investment treaties (BITs) formed since 1967, as a means of protecting offshore investments by South Koreans. But South Korea has never once sued another country, nor has the government been sued by a foreign investor. The reason was that none of those treaties was with the United States.
President Lee Myung-bak’s recent visit to the United States set a new political record. Prior to the South Korea-U.S. summit meeting, U.S. Congress passed the implementation bill for the South Korea-U.S. Free Trade Agreement (KORUS FTA) with unprecedented speed. But does President Lee know that the KORUS FTA has no force in the United States whatsoever?
