The 2018 US-Korea FTA Revision: From the US Perspective

• Author: Binwu Qin - Rajesh Sharma
• Position: Associate Professor at Xiangtan University Law School, Xiangtan, P.R. China; Research Staff of Collaborative Innovation Center for Rule of Law in Hunan and Governance of Regional Society. LL.B. (Lanzhou Univ. of Fin. & Econ.), LL.M (Xiangtan Univ.), J.D. (St. Thomas Univ.). ORCID: https://orcid.org/0000-0001-9049-7441. The author may be...
• Pages: 131-144

Binwu Qin

∗

& Rajesh Sharma

∗∗

The US-Korea FTA, in its initial days of negotiation saw severe protests by public and

political turmoil in Seoul. After crossing several procedural hoops and political hurdles

in parliaments of both countries it became effective in 2012, though it was signed in

2007. At that time, it was considered by the US a ‘model agreement’ which could open

opportunities for the US exporters in the Korean market. However, only couple of years

later, the Trump administration called this FTA a ‘horrible’ deal that has ‘destroyed’

America. Thus, the Trump administration wanted to scrap the FTA. After considering

the political implications of such action, the US government decided to re-negotiate

the FTA so that the US concerns are addressed. In a short period of negotiation, both

sides agreed to the revised terms of the FTA which has become effective from January 1,

2019. This paper analyses outcomes of the revised US-Korea FTA, 2018 from the US

perspective and evaluate if all concerns of the US are met.

Keywords

US-Korea FTA, KORUS, Truck Tariffs, Automobile Exports in Korea, ISDS,

Customs Principles, Pharmaceutical Reimbursements

The 2018 US-Korea

FTA Revision:

From the US Perspective

∗ Associate Professor at Xiangtan University Law School, Xiangtan, P.R. China; Research Staff of Collaborative Innovation

Center for Rule of Law in Hunan and Governance of Regional Society. LL.B. (Lanzhou Univ. of Fin. & Econ.), LL.M

(Xiangtan Univ.), J.D. (St. Thomas Univ.). ORCID: https://orcid.org/0000-0001-9049-7441. The author may be contacted

at: 1877992620@qq.com/Address: #304, Law School Building of Xiangtan University, Xiangtan, Hunan Province

411105, P.R. China.

** Senior Lecturer at Criminology & Justice Dept. of RMIT University, Melbourne, Australia; Honorary Professor of

Xiangtan University, China. LL.B. (Dehli Univ.), M.Phil. (CUHK), MBL (Monash), Ph.D. (CUPL). ORCID: https://

orcid.org/0000-0002-7564-9141. The author would like to thank Ena Shaw for reading drafts of this paper and giving her

constructive feedbacks. The author may be contacted at: Rajesh.Sharma@rmit.edu.au/Address: 411 Swanston Street,

Melbourne-3000, VIC, Australia.

J. EAST ASIA & INT’L L. Vol. 12/No.1 (2019); 131-144

Publication type : Research Article

Section : Regional Focus & Controversies

DOI : http://dx.doi.org/10.14330/jeail.2019.12.1.07