ISDS Case Map
Korea
The South Korean government is attempting to pass the Korea-US FTA bill in an extraordinary national assembly session starting 28 January and lasting one month
Under EU-suggested rules, a product would be considered as coming from a trading partner only when at least 60 percent of the value of the finished item is added in that country. South Korean negotiators want the ratio to be lowered to 40 percent, as a number of manufacturers in the country outsource many components from neighboring countries such as China to cut costs.
In a party caucus on Tuesday, Korea's Grand National Party floor leader Ahn Sang-soo called on lawmakers to ratify the free trade agreement with the US by secret ballot if necessary.
South Korea will ratchet up efforts to resolve a beef trade spat with the United States as early as possible in order to help a free trade deal signed last year between the two countries win parliamentary approval, officials said Friday.
It was in late June last year that the much-touted Korea-US free trade agreement was signed between the two countries. More than six months later official ratification of the deal has yet to be made by either US Congress or the Korean National Assembly. Korean business organizations say if the stamp of approval is not given by February's end, the hard-won trade deal could go down the drain.
Korea is considering a free trade pact with the the Southern African Customs Union (SACU) to expand cooperative ties with resource-rich countries
Thailand has concluded free trade talks with South Korea under the Asean-Korea free trade agreement (AKFTA) after almost a year of negotiations. Under the deal, Thailand will be given more flexibility in cutting and/or waiving its tariffs compared to other Asean nations.
Korea's parliamentary "yes-or-no without amendment" vote on the Korea-US FTA motion may not be carried out before Roh's term expires on Feb. 25.
Korea's stalled and deadlocked free trade talks with Japan might see a breakthrough under the economic stewardship of President-elect, and former Hyundai CEO, Lee Myung-bak.
South Korea is holding back on farm products
