Skip Menu
Main Content Menu

home PRESS CENTER구분선Press Releases

Press Releases

  • Print
  • facebook
Korea, U.S. host 4th KORUS FTA Joint Committee meeting in Seoul 2017-01-13
The Ministry of Trade, Industry and Energy announced on January 12 that the fourth meeting of the Korea-U.S. Free Trade Agreement (KORUS FTA) Joint Committee was held in Seoul to review the implementation of the bilateral trade pact. 
 
The fourth meeting of the high-level Joint Committee, established under the KORUS FTA, was attended by Deputy Minister for Trade, Ministry of Trade, Industry and Energy Lee Inho, Assistant U.S. Trade Representative for Japan, Korea and APEC Michael Beeman and officials from other involved Korean ministries. 
 
The two countries’ representatives noted that the KORUS FTA, the main framework for the bilateral economic cooperation, has been mutually beneficial with its implementation stably managed. They agreed to continue making efforts to ensure the FTA help boost trade and investment between the countries and create jobs. 
 
During the meeting, the Korean representatives raised issues regarding the domestic industries’ concerns over the U.S.’ import regulations, especially for the steel sector. They also requested Korea’s efforts to be reflected on the 2017 National Trade Estimate Report on Foreign Trade Barriers, an annual report on foreign barriers to U.S. exports published by the United States Trade Representative.
 
The U.S. representatives reviewed Korea’s implementation of the bilateral agreement in the field of origin verification and in the automotive sector. Other interests of the U.S. including the enforcement of competition laws will continue to be reviewed. 
 
The officials discussed the schedules for the meetings of implementation committees for different FTA sector established under the Joint Committee, and agreed to hold them soon. It was also agreed that the Deputy Minister for Trade and Assistant USTR will regularly check the progress in the area of the two countries’ interests. 
 
Deputy Minister Lee said, “We expect the opportunities for cooperation in the energy, manufacturing and infrastructure sectors will be expanded with new policies of the new administration in the U.S.”

*short version