During the two weeks leading up to June 29, the U.S. and Korea met to discuss changes sought by the U.S. to comply with new trade negotiation guidelines from the Democratic Congress. Final agreement was reached on Friday, June 29, in time for signing of the agreements on Saturday the 30th.
I haven't found the text of the final agreement, or seen much detail on the changes to it, or the side-agreements, agreed to on 29th. The U.S. sought tighter labor and environmental conditions, and could offer less restrictive conditions on generic drugs.
Moreover (Additional KOR-US FTA Negotiations Concluded , DongA Ilbo,June 30):
The U.S. promised to help Korea be included in its Visa Waiver Program (VWP), and it will not raise the issue of Korean pharmaceutical companies manufacturing generic drugs for 1.5 years after the trade agreement goes into effect.
In the meantime, George W. Bush, the U.S. president, will reportedly announce a statement on June 30 (local time) that his government will proactively entertain the possibility of including Korea as one of the beneficiaries of its VWP.
On Saturday, the day the agreement was signed, President Bush did call on Congress to include Korea in a visa waiver program (Bush pledges effort for Korea's visa waiver, urges Congress to ratify Korea FTA (The Hankyoreh, June 30):
U.S. President George W. Bush on Saturday pledged to work with Congress to include South Korea and others in a visa waiver program (VWP) while urging lawmakers to ratify the just-signed free trade agreement (FTA) with the Asian nation.
In a released statement, Bush recalled his announcement in November seeking modifications to the VWP to offer it to Central and Eastern European nations and other allies including South Korea.
"I am committed to continuing to work with Congress to produce legislation that would strengthen our country's security by implementing this initiative," he said.
It is in U.S. interests to facilitate travel to the U.S. while preventing terrorists from exploiting such benefits, he said.
The statement came just after South Korea and the U.S. signed the FTA, starting a process of removing tariff and non-tariff barriers to goods and services flowing between the two countries.
Established in 1986, the VWP currently covers 27 nations. No country has been added to the program since 1999, and efforts to expand it have been discouraged following the Sept. 11 terrorist attacks.
Although the visa program is not a part of the FTA, the South Korean government has been pressing Washington for inclusion when negotiating the trade pact.
The U.S. also pledged to provide visa quotas for professionals, allowing specialists to work in each other's country. It would be similar to a program already in place between the U.S. and Australia, under which 10,500 such visas are issued annually.
South Korean officials said they would seek a bigger quota than for Australia, but need to work out measures to cross-recognize certificates....