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back to index backASIAtalk February,  2017


Korea Argues KORUS Trade Deal Is Misunderstood, Not ‘Job Killer’

South Korea is worried about KORUS FTA.

Unlike some of the countries in this review such as Malaysia and Thailand, South Korea already has a free trade agreement with the US. The KORUS FTA (United States-Korea Free Trade Agreement) was signed in June 2007 and came into effect in March 2012.

The reason that South Korea (EWY) is worried about the treaty is the view that US President Donald Trump took towards the nation during his election campaign. As a presidential candidate, Trump had described the KORUS deal as job killing” for the US, adding that it doubled our trade deficit with South Korea and destroyed nearly 100,000 American jobs.”

Though since his election, Trump has made no specific remarks on the KORUS FTA, South Korean businesses are worried that the agreement may be under fire once the Trump administration has thought through its deals with China, Mexico, and other major partners.

The business community in South Korea (DBKO) is pulling out all the stops to convince the Trump administration of the virtues of its free trade deal to preempt any negative views which may come to light.

To read entire article, please click here.

Source: Frontera News
- GAI






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