The Ministry of Trade, Industry and Energy (MOTIE) announced on February 1 that the second round of negotiations on amendments to the Korea-U.S. Free Trade Agreement (KORUS FTA) took place in Seoul on January 31 and February 1.
At the talks, the two sides had more detailed discussions on the issues raised at the first round of negotiations held in Washington D.C. on January 5, 2018. They also exchanged their views on market access and tariffs.
The Korean delegation was led by Deputy Minister for FTA Negotiations Yoo Myung-hee of MOTIE, and the U.S. delegation was led by Assistant U.S. Trade Representative for Japan, Korea and APEC Michael Beeman.
The Korean officials gave the U.S. counterparts a detailed explanation of Korea’s stance on Investor-State Dispute Settlement (ISDS) and U.S. trade remedies against Korean exports, emphasizing that amendments to the KORUS FTA should be made based on the principle of reciprocity.
Both sides agreed to hold the third round of talks in the U.S. while specific dates are to be determined in the near future.