Framework for Korea-US FTA unveiled
Chosun Ilbo | Seoul | 19 April 2006
Framework for Korea-U.S. FTA Unveiled
Korea and the United States agreed on Wednesday to exchange proposals for a free trade agreement before May 19 and formally start negotiations in the U.S. on June 5. Korea’s chief negotiator Kim Jong-hoon in a press conference at the U.S. Embassy announced that the two countries agreed to divide the issue into 17 sectors, including agriculture, customs/labeling, and services.
The two countries will apparently refer to the Korea-U.S. FTA as the “KORUS FTA.” Once the deal has been concluded, the written agreement will be made public. But they agreed to withhold some of the negotiation documents from the public for three years after the accord comes into effect. The press conference follows two days of preliminary talks between Kim and assistant trade representative Wendy Cutler for the U.S.
