The US and South Korea are set to continue talks this week on modifying and amending their bilateral free trade agreement.
Last July the United States initiated discussions on “possible amendments and modifications” of the US-Korea Free Trade Agreement (KORUS), with meetings on the issue held in August in Seoul and in October at the offices of the US Trade Representative.
The latest meeting, which took place on 5 January in Washington DC, was the first between both sides since the completion of related domestic procedures in Korea in late December 2017.
Feedback from the day-long session suggested there is still “much work to do to reach an agreement that serves the economic interests of the American people.”
Much work remains to reach a deal on US-Korea FTA
Now, talks are set to continue later this week in Seoul (31 January and 1 February), with the US preparing to engage on “priority areas” with the goal of moving towards fair and reciprocal trade and resolving additional cross-cutting and sector-specific barriers impacting US exports.
The United States delegation will be led by Michael Beeman, assistant US Trade Representative for Japan, Korea and APEC. The Republic of Korea delegation at the meeting will be led by Myung-hee Yoo, director general from the Ministry of Trade, Industry and Energy (MOTIE).
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By GlobalData
