ISDS Case Map
Korea
A South Korean court ruled Tuesday that the government should compensate the family of a farmer who was fatally injured by police during a protest against free trade.
The governing Grand National Party (GNP) Wednesday accused former President Roh Moo-hyun, who called on the government to prepare for renegotiations of the free trade agreement with the United States which was clinched under his presidency, of reversing his stance.
India is closer to signing a free trade agreement (FTA) with South Korea, giving the country an opportunity to aggressively engage within Asia when the US and European economies are in turmoil.
The administration and ruling party are pushing to have the National Assembly ratify the South Korea-U.S. free trade agreement and the Democratic and other parties are calling for a renegotiation of the agreement. Those who argue for renegotiation say that regardless of whether Korea ratifies the document, the United States is going to call for renegotiation anyway, so the country should use the opportunity to increase its own interests in that process.
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.
