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
SUMMARY

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... (see full summary)

 
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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 & INTL 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

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