Korea-U.S. FTA

WTO's Korean Trade Policy Review

The WTO examines member country trade policies periodically, and reports the results in trade policy reviews.  It released its 2008 Korean Trade Policy Review last week: Trade Policy Review: Republic of Korea. 

The International Centre for Trade and Sustainable Development (ICTSD) reported on the review: Korea TPR: Sound Fundamentals, but Further Reform Needed to Sustain Growth.

Korean Economists On Trade and Other Issues

The Korean International Economic Association evidently held a conference or seminar on Friday.   Yoon Ja-young reported on the comments of three economics professors: 'US Is Not a Model for Korea', The Korea Times, June 13).  

Lee Retains Kim Jong-hoon

Korea's new president has refused the resignation of Trade Minister Kim Jong-hoon.  Kim was appointed by the last administration and was led Korea's negotiating team in the KORUS FTA negotiations: Lee retains leading FTA negotiator (JoongAng Daily, March 8, 2008).

Is Korea Picking the Right FTA Partners?

Has Korea been picking the right trade partners for FTA negotiations?  Kim Do-hun, a researcher at the Korea Institute for Industrial Economics and Trade doesn't think so: FTA targets miss the mark: expert (Limb Jae-un, JoongAng  Daily, Feb 20); ‘Hong Kong, China Ideal for Korea’s FTA Partners’ (Yoon Ja-young, Korea Times, Feb19).

Limb reports:

The Korean Navy's Indian Ocean Aspirations

Trading countries like to protect their trade routes (China's growing navy, July 16, 2007; India wants to protect its sea lanes too, July 17, 2007).

South Korea is no exception.  Mingi Hyun over at the 'Manoeuvre' in Maritime Asia weblog has posted on the Korean response in a U.S. invitation to help protect joint U.S. and Korean interests in the Indian Ocean: USN-ROKN to Pursue Joint Operations in Indian Ocean (January 27, 2008):

Korean motives: locking in reforms

In a recent interview with the Los Angeles Times editorial board, U.S. Trade Representative Susan Schwab explained that under the trade agreement, the Korean government was enacting domestic reforms in exchange for preferential access to the largest market in the world.  The reciprocity, she argued, makes it politically easier for the government to implement necessary reforms (Free trade unbound, January 16):

Korea's "FTA Mode"

Oh Jung-kyu, the Director-General for Trade & Investment Promotion in the Ministry of Commerce, Industry and Energy, discussed Korea's approach to FTA's in early December: Open and competitive: getting into FTA mode (Korea.net, December 3, 2007).  My summary:

Why Chile?

Why did Korea negotiate its first FTA with Chile? 

Inkyo Cheong provides an explanation in this 1999 paper Korea's FTA Policy Consistent with APEC Goals.  Dr. Cheong, an FTA expert from Inha University, has been involved in Korea FTA policy making.

Korea's Other Bilateral Trade Negotiations

The Koreans aren't just working on a trade agreement with the U.S.  They are negotiating preferential access to their market with many other countries.  Here's the summary report from the Asian Regional Integration Center: Korea, Republic of: