[CTC] Trumka: China's currency practices to World Trade Organization

[Citizens Trade Campaign]

The Hanyoreh


Trade minister promises no revisions to KORUS FTA
S.Korea says upcoming KORUS FTA talks will 
confirm the existing agreement, while the U.S. 
has called them ‘new discussions’

[]

» Trade Minister Kim Jong-hoon speaks about the 
summit between South Korea and the United States 
during a press conference in Toronto, Canada, June 26.
Trade Minister Kim Jong-hoon stated on June 30 
that South Korea would not amend the South 
Korea-U.S. Free Trade Agreement (KORUS FTA) with 
the United States. South Korea and the United 
States plan to hold talks to resolve remaining issues with the deal.

“Adding a single comma to the existing agreements 
would also be considered a revision of the text. 
No such thing will take place,” said Minister Kim 
during a briefing at the Ministry of Foreign 
Affairs and Trade. “These talks will be 
working-level consultations, since both countries 
have already made an agreement, not a ‘new 
discussion’ as the U.S. is calling it.”

Kim also said a concrete timetable has not yet 
been decided upon, as the United States did not make any official proposals.

“If barriers are objectively proven, it would be 
undesirable for our economy as well,” said Kim, 
adding that South Korea has no trade barriers 
against U.S. automobiles. “However, we cannot 
agree with the U.S. if they try to blame the weak 
U.S. autos sales in South Korea on allegedly disguised trade barriers.”


Kim said South Korea would not ask for additional 
concessions from the United States even if the 
U.S. brings up the auto and beef industry issues, 
a move that has been labeled “Pandora’s box.” 
Thus, Kim would make efforts to avoid that type of situation.

The KORUS FTA was signed on April 2, 2007, but 
still awaits ratification in the legislatures of 
both countries. Last week, U.S. President Barack 
Obama announced a plan to resume talks on a free 
trade agreement (FTA) with South Korea. 
Washington made it clear that the main issues to 
be discussed include non-tariff measures related 
to autos and beef. A number of lawmakers in the 
U.S. have complained about the deal’s auto 
provisions, which they claimed were insufficient 
in tearing down South Korea’s “non-tariff barriers” to U.S. auto imports.

In the case of beef trade, cited as one of the 
two major hurdles to the ratification of the free 
trade deal, the United States wants South Korea 
to lift restrictions on the shipment of beef.

South Korea currently limits beef imports to 
cattle under 30 months of age due to lingering 
concerns about Mad Cow Disease. The United States 
recorded three cases of Mad Cow Disease in cattle 
between 2003 and 2006. In response, Seoul banned imports of U.S. beef in 2003.

The South Korean government resumed imports of 
U.S. beef in late 2008, despite widespread 
concerns among South Koreans about Mad Cow 
Disease, which resulted in months of massive candlelight vigil demonstrations.

Source: The Hankyoreh and the Yonhap News Agency

Please direct questions or comments to [englishhani at hani.co.kr]


Posted on : Jul.1,2010 12:33 KST
© 2006 The Hankyoreh Media Company. All rights reserved.
No part of this material may be reproduced, 
stored in a retrieval system, or transmitted in 
any form or by any means, electronic, mechanical, 
mimeographical, in recorded form or otherwise for 
commercial use, without 
<mailto:copyright at news.hani.co.kr>the permission 
of the Hankyoreh Media Company.
[]

[]
[]
[]
[]
[]
[]
[]
[]

[]
[]
[]

<http://www.hani.co.kr/arti/english_edition/e_national/428396.html#top>
[]

<http://www.hani.co.kr/arti/english_edition/e_national/428396.html>Most 
viewed Artcles
[]
<http://english.hani.co.kr/arti/english_edition/e_national/429435.html>KBS 
accused of political ..
[]
<http://english.hani.co.kr/arti/english_edition/e_international/298846.html>In 
Mongolia, sex tourism ..
[]
<http://english.hani.co.kr/arti/english_edition/e_business/429433.html>Samsung 
set to continue r..
[]
<http://english.hani.co.kr/arti/english_edition/e_national/429434.html>Four 
Rivers construction ..
[]
<http://english.hani.co.kr/arti/english_edition/e_editorial/429436.html>[Editorial] 
The Lee admin..