U.S. - South Korea (ROK)

Economics and Trade Relations

2008

January 10, 2008 - Gutierrez: Korea FTA “Too Important to be Allowed to Fail”

Thank you, Jack, (Pritchard, KEI President) and thank you for inviting me to join you at today’s program to celebrate the achievements of Korean-Americans and discuss one of the most important initiatives facing our two countries today—the U.S.-Korea Free Trade Agreement.

First, I’d like to congratulate the Korea Economic Institute on your 25th anniversary. KEI has helped deepen understanding among Americans about developments in Korea, and the value of the Korea-U.S. relationship. more

2007

April 2, 2007 - Bush Administration Submits Annual Trade Report to Congress

WASHINGTON DC – The Office of the U.S. Trade Representative today announced the release of its 2007 National Trade Estimate Report (NTE), which details significant barriers to U.S. trade and investment and the broad array of U.S. actions to reduce and eliminate those barriers.

“This report reflects the success of the Administration’s pro-growth, market-opening trade agenda.  However, a significant amount of work remains to knock down trade barriers and ensure that American exporters have new economic opportunities across the globe,” said U.S. Trade Representative Susan C. Schwab. more

March 30, 2007 -  2007 National Trade Estimate Report on Foreign Trade Barriers    

The 2007 National Trade Estimate Report on Foreign Trade Barriers (NTE) is the twenty-first in an annual series that surveys significant foreign barriers to U.S. exports. The report provides, where feasible, quantitative estimates of the impact of these foreign practices on the value of U.S. exports. Information is also included on actions taken to eliminate barriers. more

March 30, 2007 -  2007 National Trade Estimate Report - Korea

- TRADE SUMMARY -
The U.S. goods trade deficit with Korea was $13.4 billion in 2006, a decrease of $2.6 billion from $16 billion in 2005. U.S. goods exports in 2006 were $32.5 billion, up 16.9 percent from the previous year. Corresponding U.S. imports from Korea were $45.8 billion, up 4.7 percent. Korea is currently the 7th largest export market for U.S. goods. more

 

2006

November 10, 2006 - South Korea Loosens, Clarifies Trade Restrictions on U.S. Beef

Washington -- In response to a request by the U.S. Department of Agriculture (USDA), South Korea has provided the United States with updated information on its beef trade restrictions, the USDA announced November 9.  South Korea told the United States that it will remove silver skin (a membrane separating muscle groups) from its list of banned items, and will not consider cartilage, breastbone and bone chips as specified risk material.  The term "specified risk material" refers to parts of a cow thought to transmit bovine spongiform encephalopathy (BSE) – mad cow disease.  more

September 8, 2006 - South Korea Resumes Importation of U.S. Boneless Beef
U.S. agriculture secretary calls move "first step in normalizing trade of beef"

The Republic of Korea announced on September 7 that it will resume importing U.S. boneless beef, but only from cattle less than 30 months of age.  more

April 28, 2006 - 2006 Special 301 Report , U.S. Trade  Representative

The 2006 "Special 301" annual review examines in detail the adequacy and effectiveness of intellectual property rights protection in 87 countries. Based on a lengthy process of information gathering and analysis, the United States Trade Representative has identified 48 countries that are designated in the categories of Priority Watch List, Watch List, or Section 306 Monitoring.  more

March 31, 2006 - 2006 National Trade Estimate Report on Foreign Trade Barriers - Korea, U.S. Trade  Representative

The U.S. goods trade deficit with Korea was $16.1 billion in 2005, from $19.8 billion in 2004. U.S. goods exports in 2005 were $27.7 the previous year.  Corresponding U.S. imports from Korea were $27.7 billion, up 4.8 percent from the previous year. Corresponding U.S. imports from Korea were $43.8 billion, down 5.2 percent. Korea is currently the 7th largest export market for U.S. goods.  more

March 2006 - 2006 Trade Policy Agenda and 2005 Annual Report,  U.S. Trade  Representative

The 2006 Trade Policy Agenda and 2005 Annual Report of the President of the United States on the Trade Agreements Program are submitted to the Congress pursuant to Section 163 of the Trade Act of 1974, as amended (19 U.S.C. 2213).  more

March 31, 2006 - U.S.-South Korea Trade Pact Could Benefit Women Entrepreneurs

Agreement could boost investment, business opportunities, U.S. envoy says

Successful negotiation of a U.S.-South Korea Free Trade Agreement (FTA) could benefit both Korean and American female entrepreneurs by promoting economic growth and reform in Korea, says U.S. Ambassador to South Korea Alexander Vershbow.  more

March 21, 2006 - Cooperation & Development for Korean/American Women Entrepreneurs

President Jung Myung-keum, members of the Korean Women Entrepreneurs Association:  thank you for extending this invitation to be here this morning.  Lisa, thank you for that nice introduction.  I know that in the past important Korean leaders such as Seoul Mayor Lee Myung-bak and former Health and Welfare Minister Kim Geun-tae have addressed you, and I am honored to join their company.  more

February 8, 2006 - Questions and Answers from Economic Press Roundtable with Embassy Official

QUESTION: I am from Dong-A Daily. Previously you said that you hope that other Northeast Asian countries will be inspired by the ROK-US FTA and move to sign FTAs with the US. So does the US have any further plans or strategy to sign FTAs with other Northeast Asian or Asian countries?  more

January 13, 2006 - South Korea Agrees To Lift Partially Ban on U.S. Beef Exports

U.S. officials welcome move as first step toward normalization of trade
The United States and South Korea have reached agreement on an initial import protocol that would reopen South Korea's market to certain exports of U.S. beef, Secretary of Agriculture Mike Johanns and U.S. Trade Representative Rob Portman announced January 13.  more

Archive

 

   

  

1. 2005 Special 301 Report on Intellectual Property: Korea in Watch List (Apr 29, 2005)
2. 2005 Trade Barriers Report on Korea (March 30, 2005)
3. 2005 National Trade Estimate Report on Foreign Trade Barriers (Mar 30, 2005)
4. South Korea Agrees to Import More U.S. Rice (3 Jan 2005)
5. 2004 Trade Barriers Report on Republic of Korea (8 Apr 2004)
6. 2004 National Trade Estimate Report on Foreign Trade Barriers (8 Apr 2004)
7. USTR Press Release on Elevating Korea to Priority Watch List (8 Jan 2004)
8. 2004 Special 301 Report on Intellectual Property: Korea in Priority Watch List
9. 2003 Trade Barriers Report on Republic of Korea (01 Apr 2003)
10. 2003 National Trade Estimate Report on Foreign Trade Barriers (2003)
11. U.S. Secretary of Commerce Donald L. Evans Press Conference (31 May 2003)
12. Bush to Focus at APEC on Free Trade, Security Cooperation (14 Oct 2003)
13. The United States and Asia-Pacific Economic Cooperation (APEC) (14 Oct 2003)
14. Text: Oregon Lawmakers Urge Support for Korean Semiconductor Trade (31 Mar 2003)
15. Korea's Country Commercial Guide 2004 (Microsoft Word, 926KB)
16. Text: South Korea Signs On to Container Security Initiative (21 Jan 2003)
17. Text: President Signs Proclamation on Korean Line Pipe Imports (August 29, 2002)
18. Text: U.S., Korea Reach Accord on WTO Dispute Over Line Pipe (July 30, 2002)
19. Text: Treasury's Dam Urges Strong Financial Sector for Korea (May 15, 2002)
20. Text: Free Trade Agreement Would Boost U.S.-Korea Trade (October 12, 2001)
21. Text: Bush Travel to APEC (September 25, 2001)
22. Estonia, Korea Top List of E-Ready Among Mid-Income Economies (May 4, 2001)
23. Economic Policy and Trade Practices 2000, 2001
24. Byliner: Alan Meltzer on International Financial Institution Reform (February 14, 2001)
25. Transcript: Senators Criticize S. Korea's Bailout of Hyundai (February 14, 2001)
26. ITC to Analyze Impact of a U.S.-Korea Free Trade Agreement (January 11, 2001)
27. Text: Trade Commission To Study Negotiating Korea Free Trade Pact (January 11, 2001)
28. Text: USTR Barshefsky Says S. Korea Must Continue on Path of Reform (January 5, 2001)
29. Link to: U.S. Trade with South Korea in 2004, 2003, 2002, 2001, 2000
30. Link to: Joint Statement Concerning Semiconductors (June 10, 1999)