• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.69
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• pp.567-588
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• 2016

Korea-China FTA and Korea-U.S. FTA are the most significant FTA in volume and economic effect for Korea's perspective. Developed countries have dealt with environmental issues one of the main issues in FTA negotiation, while developing countries have been reluctant to it. Both Korea-China FTA and Korea-U.S. FTA have separate environment chapter respectively. A separate environment chapter was firstly introduced in Korea-U.S. for Korea's perspective. Both environment chapters provide high level of environment protection, recognition of multilateral environmental agreements, enforcement of environmental laws, and environmental cooperation. Both environment chapters require that each party make effort to improve environmental laws and measures. Korea-China FTA provides establishment a "Committee on Environment and Trade", and Korea-U.S. FTA provides establishment a "Environment Council" to oversee the implementation of environment clauses. Korea-China FTA and Korea-U.S. FTA have very similar provisions on environment and trade, and are expected to contribute to enhancing environment protection. However, a lot of provisions are somewhat declaratory rather than mandatory. Therefore, further environmental cooperation is encouraged to achieve the goals and objectives of the environment clauses and FTA.

• Journal of Arbitration Studies
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• v.22 no.2
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• pp.103-124
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• 2012

Because the Korea-U.S. Free Trade Agreement (Korea-U.S. FTA) and the North American Free Trade Agreement (NAFTA) have an overlapping contracting party, the United States, their provisions have much in common. The investment chapters of these agreements, especially, show many similarities, and thanks to these similarities, it is likely that the Korea-U.S. FTA arbitration tribunal for investor-state disputes regarding the environment will put great weight on the NAFTA tribunals' interpretations of those similar provisions. Since the NAFTA tribunals have already handled many environment-related arbitration cases, their interpretations will help heighten the predictability of environment-related Korea-U.S. FTA arbitration cases. This paper analyzes the environment-related NAFTA cases in which the tribunal has issued an award, which are the Metalclad case, S.D. Myers case, Waste Management case, Methanex case, Glamis Gold case, and Chemtura case. According to this analysis, the most controversial NAFTA provisions have been Article 1102 (national treatment), Article 1105 (minimum treatment standard, fair and equitable treatment), and Article 1110 (expropriation). The NAFTA tribunals applied the requirement of these articles in a strict manner, reducing the possibility of finding a violation. After the aforementioned analysis, this paper proceeds to compare the national treatment, minimum treatment standard (fair and equitable treatment), and expropriation provisions of the Korea-U.S. FTA and NAFTA and to predict the impact that the environment-related awards under NAFTA can have on environment-related Korea-U.S. FTA cases. It is expected that the NAFTA interpretations of the national treatment and minimum treatment provisions are likely be used as they are, but not the interpretations of expropriation, because of the differences in the expropriation provisions of the two agreements.

• Journal of Families and Better Life
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• v.27 no.6
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• pp.83-94
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• 2009

This study examined the expectations and attitudes of urban Korean consumers with respect to the Korea-USA Free Trade Agreement (FTA), which was drafted on April, 2007. The data were collected through online surveys in which 527 adults answered structured questionnaires. The results showed that the number of consumers who favored the Korea-U.S.A. FTA was almost twice the number of those who objected to it. Most of the consumers surveyed expected not only positive effects but also negative ones from the FTA, and the more consumers expected positive effects from the FTA, the more they tended to have positive attitudes toward the trade agreement. The effects of consumers' individual characteristics on their expectations and attitudes were also analyzed in this experiment.

• Journal of Evidence-Based Herbal Medicine
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• v.1 no.2
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• pp.17-26
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• 2008

Nowadays the flow of international trade is that there seems to appear economic block significantly because most countries contract FTAs, so our market condition is changing to a severe competitive situation. Korea which has 70% of foreign dependence of trade must get involved in regionalism, and also actively promote FTA more than any other countries. FTA on February in 2006, the pharmaceutical industry are anxious. The pharmaceutical industry in Korea has recently come to a crisis that it is hard to expect a growth due to structure of profit and a change for the worse of management. If Korea-U.S. FTA are contracted in this kind of situation, domestic pharmaceutical companies will be at stake. We can anticipate that FTA with the country that has a strong competitive power like U.S. affect negatively on pharmaceutical industry, because the industry doesn't have enough self-competitiveness. Considering this kind of surroundings, we need to present the policy to enhance competitiveness for damage limitation on pharmaceutical industry by Korea-U.S. FTA. Under this background, this research has groped for a direction to strengthen the competitiveness to develop pharmaceutical industry in quality. The competitive enhancement plan is presented which is divided into the government policy part, the R&D part, and the management part. Although Korea-U.S. FTA is analyzed to wither the pharmaceutical industry, it would be thought that it is a good chance to upgrade domestic pharmaceutical industry if we make the best use of it, and also to make in roads into foreign market.

• Journal of the Korean Professional Engineers Association
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• v.45 no.3
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• pp.28-35
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• 2012

IntPE-APEC Engineer and EMF-IRPE are the key role of Cross-Border Trade in Services at the Korea-U.S.A FTA. KPEA is the Representatives of ROK's registration for the IntPE(APEC Eng., EMF-IRPE). KPEA and IntPE(ROK) are actively promoting to get consulting/engineering services in the U.S.A within Korea-U.S.A FTA frame for the mutual benefit.

• International Commerce and Information Review
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• v.9 no.1
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• pp.333-353
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• 2007

This paper is to explore that there are structural problems in the Korea-U.S. Free Trade Agrement negotiation by examining the Korean FTA policy and to introduce some alternatives to overcome them. The structural problem stems in part from the inefficient system in FTA policy making and its implementation. Most importantly, there is a lack of ex-ante consensus building among stake-holders. As an alternative to the current FTA policy, we suggest two things. First, we argue that an FTA negotiation strategy should correspond to Korea's overall industrial development strategy. Second, the National Assembly should play an important part for enforce of trade policies as a tool for advancing a comprehensive strategic measures.

• International Commerce and Information Review
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• v.15 no.4
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• pp.217-240
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• 2013

The investment environment in Korea and U.S. dramatically changed since Korea-US FTA. The key reasons for this successful change were liberalization and strengthened protection of investment along with trade liberalization which also brought investment market expansion. As the result of trade-diversion effect, investments between two countries have been enormously increased. Through a FTA with the big economy like US, Korea's FTA network has been largely expanded. Korea further needs to utilize this outcome when competing with other countries in investment markets.

• Korean Journal of Organic Agriculture
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• v.21 no.4
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• pp.523-538
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• 2013

To help improve the current government practice of direct damage-compensation policies, resulting from the loss of profit, sustained by Hanwoo farmers, as a result of the recent Korea-U. S. Free Trade Agreement (FTA), this research aims to examine any problems or issues caused by said policies. To accomplish this task, we have established Hanwoo-SIMO model and estimated the damage of Hanwoo farmers, one without the implementation of the FTA and another with the FTA, to compare and contrast the two. We then analyzed the efficacy of the current government policies. According to our analysis, the current direct compensation policies for the loss of profit on the part of Hanwoo farmers are insufficient. To address this problem, we recommend the government enact a new direct damagecompensation law to address the following issues. First, as the base formula of damage-compensation, the government should use current price of the beef rather than the annually changing flexible price. Second, the flexible control index should remain fixed at 1.0 rate while the government prepares the adequate amount of the damage compensating direct payment resulting from the FTA. Third, the direct government compensation policy should extend beyond the current 15 years (2013-2026) as the profit loss is expected to increase after the midpoint of the FTA.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.34
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• pp.189-223
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• 2007

In Korea-U.S.A. FTA Negotiation, U.S.A. request to eliminate barriers of tariffs and non-tariff in trade of cosmetics. Korea applies tariffs of 8% on most cosmetics and personal care products. There are some non-tariffs barriers in cosmetics trade between Korea and U.S.A., for example, transparency on restriction and regulatory, cosmeceuticals, import clearance review, quality control testing, ingredient labelling. Tariffs of 8% on most cosmetics should be eliminated, a proviso of complementary measures on sanitation of Korean people about imported cosmetics. This is a meaning of reformation of prior management(tariffs) by strong ex post management in cosmetics trade. It is important that Korea should construct system of ex post management, for instance, construction of data base on manufacturer, importer, bland name of cosmetics and all ingredients of cosmetics. This is concerned with labelling of cosmetics and cosmeceutical and publication of Korean edition of INCI(International Nomenclature of Cosmetic Ingredient).

• International Area Studies Review
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• v.13 no.3
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• pp.695-728
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• 2009

This study aims to conduct a quantitative assessment of potential economic impacts on the Korean economy of the concessions of the Korea-U.S. FTA (KORUS FTA) which was signed on April 1, 2007 using a dynamic computable general equilibrium (CGE) model, with all sectors, including agriculture, manufacturing sectors and services industry, considered for simulations. In addition, the timing of trade liberalization based on the concessions agreed on in the KORUS FTA talks for all sectors is explicitly considered. Major findings of this study are that Korea' real GDP would rise by 4.67%~4.99% by 2023 and the contribution of liberalization of services trade to Korea's economic growth would be 0.3%~0.62% points. Trade liberalization in service sectors would lead to lowered import prices and an increase in FDI, which are to contribute to an higher output and exports of sectors which make an intensive use of imported inputs and finally a higher economic growth of the Korean economy as a whole. For that to happen, a ratification of the KORUS FTA by the National Assembly of Korea and the U.S. Congress is required.