U.S.–Korea Free Trade Agreement Summary
Major Provisions and Policy Implications
On June 30, 2007, U.S. and South Korean officials signed the proposed U.S.–South Korean Free Trade Agreement (KORUS FTA) for their respective countries. The KORUS FTA would be the second-largest FTA South Korea has signed to date (next to the agreement with the European Union (EU)). It would be the second-largest (next to the North American Free Trade Agreement) in which the United States currently participates. South Korea is the seventh-largest trading partner of the United States, and the KORUS FTA is expected to expand bilateral trade and investment flows according to some studies. The text of the proposed free…
