The U.S.-South Korea Free Trade Agreement

This book provides an overview of the U.S.-South Korea Free Trade Agreement (KORUS FTA) which covers a wide range of bilateral economic activities, including trade in manufactured goods, agricultural products and services; foreign investment; government procurement; intellectual property rights; and worker rights and environmental protection. The United States and South Korea entered into the KORUS FTA as a means to further solidify an already strong economic relationship by reducing barriers to trade and investment between them and to resolve long-standing troublesome economic issues. The United States specifically sought increased access to South Korean markets for agricultural products, services, and foreign investment. For South Korean leaders, the KORUS FTA is a mechanism to promote reform in its own economy and also to gain a competitive advantage in the U.S. markets for autos and other manufactured goods.