The REAL Understanding of the KorUS FTA

Original Publication Date: 
4 September, 2006

From the Introduction

Development of KorUS FTA

On 3 February 2006, the South Korean government suddenly announced that it would open negotiations for an FTA (Free Trade Agreement) with the United States. A public hearing on the proposed KorUS FTA was held, but dismissed before it could reach any conclusions. Despite this fact, the government has accelerated the negotiation process with the US to the point of actual beginning talks as if the hearings on the FTA were carried out.

Like the South Korean government, the former USTR ambassador, Rob Portman, welcomed the opening of the KorUS FTA talks saying "this will be the most commercially significant free trade negotiation we have embarked on in 15 years." This statement was followed by broad support from American business. This demonstrates that the KorUS FTA will offer another chance to transnational corporations to maximize their profits while sacrificing peoples