By Don Southerton, KoreaLegal.org Editor
As KORUS FTA unfolds the treaty will continue to be looked at as to its fairness. So far, I find US firms with interests in Korea still hoping it will improve their margins and boost sales. Meanwhile as Yonhap and UPI note…..
Working groups cover S. Korean trade pact
WASHINGTON, June 9 (UPI) — A South Korean envoy in Washington said two days of talks on the free trade agreement would continue when each side digests the latest negotiations.
The latest talks covered ways moderate-sized and small businesses could use the free trade pact. Working groups on goods, service and investment also got together to discuss the bilateral agreement that went into effect March 15.
South Korea’s Yonhap News Agency reported Saturday that both sides would meet to discuss the investor-state dispute clause in the treaty, which is the process for one side to bring legal complaints against the other.
Opposition parties in South Korea are concerned that U.S. firms with powerful legal teams have the advantage in the current agreement.
They have also complained that the agreement allows U.S. companies to use the process to change South Korean laws, effectively giving away the country’s autonomy to U.S. interests.
Source– United Press International, Inc
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