Korea-U.S. FTA

Legal Services Reform in Korea

The Wall Street Journal editorializes about legislation under consideration in Korea's National Assembly that would liberalize the Korean legal market: Free the Lawyers (August 6).  Hoon Lee, at the "Korean Legal News," had a pessimistic take on the new statute a few days ago: The New Foreign Legal Consultants Bill -- creating more problems than offering solutions? (July 20).

Brendon Carr, at the "Korea Law Blog," provides a very useful, paragraph-by-paragraph, analysis of the Journal's editorial.: Wall Street Journal on Korea Legal Market Opening: “Free the Lawyers” (August 6).

Hollywood No Real Threat to Korean Media

Eli Noam - a professor at Columbia - doesn't think the Korea-U.S. will give Hollywood much, or do much to threaten Korean media: A paradoxical free trade agreement (Financial Times, June 24)

Can Korean Book, Film and TV Producers Survive the FTA?

UCLA's AsiaMedia website reprints a number of stories from Korea discussing the possible impacts of the FTA on Korean media - print, television, and film. 

The title isn't meant to be an editorial statement - it reflects the uncertainty expressed in the Korean stories excerpted in this post.

America's life insurers like the deal

ACLI Applauds Signing Of KORUS FTA; Urges Congressional Backing (American Council of Life Insurers, July 2). The agreement is a new "gold standard" for such agreements:

Key features of the KORUS FTA provide greater transparency in rulemaking by South Korea’s supervisory bodies ensuring that U.S. life insurers have a meaningful opportunity to participate in the regulatory process. In addition, the agreement calls for government-related entities, such as the Korea Post Office, that provide insurance to come under the same supervisory structure as private insurers, thereby helping to level the playing field in this important area.

Here's what it does for the U.S.:

“KORUS FTA will promote economic growth in the U.S. by providing life insurers with greatly improved access to one of the largest insurance markets in the world,” Keating said. “The assets accumulated by life insurers thanks to international trade provide the U.S. economy with a major source of investment capital.”

...It will reinforce America as a leading trade partner in Asia in light of the growing network of Asian alliances.