ISDS Case Map
Korea
Apparently upset by the US refusal to address its key demand for easing anti-dumping rules, South Korea said Friday it will refuse formal discussion of automobile and other issues of US concern at the upcoming free trade talks between the two countries.
South Korea's agriculture minister confirmed Friday that his government will not open its rice market under a proposed free trade agreement with the United States.
South Korea and India will exchange initial offers on tariff reduction levels at the bilateral comprehensive economic partnership agreement (CEPA) meeting in India this week.
Despite the government yesterday ruling out the possibility of opening the Oriental medicine market in ongoing free trade talks with the United States, Korea's doctors are still planning to stage protests.
The inability of the US to reach a major trade agreement with South Korea signals that Europe could set standards in global trade.
Foreign companies will likely be invited to participate in policymaking processes of the Korean government. The plan is mostly aimed at preventing possible risks of a series of lawsuits from US investors after a possible free trade agreement (FTA) with the world's largest economy.
The South Korean parliament has requested the government suspend state subsidies to civic organizations involved in illegal rallies ahead of a new round of free trade talks with the United States this month.
Officials from the two sides are expected to exchange the first set of lists this week giving out the sectors which would not be opened up and those where zero-duty imports would be allowed and visas and investment would be allowed without restrictions.
Korea's Ministry of Commerce, Industry and Energy requested a budget of 1 billion won (US$1 million) to the National Assembly on January 1, saying that it needed extra funds to offset the harsher effects of FTAs, estimating 13,000 firms and 100,000 workers would be affected.
Free trade agreements with the United States, Japan, China and Southeast Asia would put more than 100,000 South Koreans out of work over the next 10 years, according to a government estimate.
